http://www.proactiveinvestors.com Proactiveinvestors RSS feed en Thu, 20 Sep 2018 17:28:36 -0400 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[News - Great Panther Silver pushing ahead with bulk sample programme at Peru project; posts second-quatrer results ]]> http://www.proactiveinvestors.com/companies/news/202120/great-panther-silver-pushing-ahead-with-bulk-sample-programme-at-peru-project-posts-second-quatrer-results-202120.html Precious metals miner Great Panther Silver Ltd (TSX:GPR; NYSE:GPL) is making good progress on its bulk sample program (BSP) at the Coricancha gold-silver-lead-zinc-copper project in Peru.

The BSP will process around 6,000 tonnes of material and is expected to be finished in the first quarter of 2019, the firm said Thursday.

The project was started after the release of a preliminary economic assessment (PEA) for the Peru project, which put a  net present value on it at US$16.6mln.

Access decline advanced..

Since then, the access decline has been advanced 75 metres, which is ahead of schedule, said Great Panther.

Work has also begun on the upgrade and rehabilitation of surface roads and underground mine infrastructure.

Mechanical, electrical and instrumentation testing has also begun on the crushing, grinding, and flotation circuits.

Also today, the miner posted its second quarter and half year results, which showed the second three months had been impacted by  Coricancha related project and care and maintenance and higher costs at the Guanajuato mine complex due to narrower vein widths than expected.

"Despite this, we are maintaining our cost guidance for the year, as we expect the trend in Q2 to reverse in the remainder of the year based on our recent drill results and development to date to access these drilled targets," said Jim Bannantine, president and chief executive.

Strong balance sheet..

"We continue to maintain a strong balance sheet with approximately $60-million of cash and short-term investments, and no debt, which is more than sufficient to fund the development of Coricancha.

"Further, we expect our Mexican operations will continue to provide cash flow to fund the company's ongoing requirements."

Revenue for the six months to June 30 came in at US$34mln versus US$28.1mln last year. The net loss was US$2.8MLn versus a profit of US$3.8mln in 2017.

The production guidance for 2018 remains unchanged at between 4mln and 4.1mln silver equivalent ounces at all in sustaining costs (ASIC) of US$12.50 and US$14.50.

Shares in Great Panther in Toronto dropped 2.03% to C$1.45 each.

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Thu, 02 Aug 2018 09:27:00 -0400 http://www.proactiveinvestors.com/companies/news/202120/great-panther-silver-pushing-ahead-with-bulk-sample-programme-at-peru-project-posts-second-quatrer-results-202120.html
<![CDATA[News - Great Panther Silver repeats 2018 guidance as it unveils second quarter production stats ]]> http://www.proactiveinvestors.com/companies/news/200509/great-panther-silver-repeats-2018-guidance-as-it-unveils-second-quarter-production-stats-200509.html Precious metals producer Great Panther Silver Ltd (TSX:GPR; NYSE:GPL) has maintained its production and cost guidance for full year 2018 as it posted second quarter numbers for its Mexico mines.

Tonnes milled in the three months were lower than the previous quarter and the same period of 2017 due to heavy rainfall, and a higher proportion of harder ores from the San Ignacio mine, which reduced processing capacity.

READ: Great Panther Silver holds annual general meeting; re-elects directors

At its Guanajuato complex, the San Ignacio mine accounted for 70% of the total ore processed at the project in the period, against 55% in  the same quarter of 2017. Consolidated metal production across both the firm's producing mines (GMC and Topia mine) decreased 9% to around 1.002mln silver equivalent ounces.At GMC, production was 643,432 silver equivalent ounces -  an 8% decrease compared to the previous quarter,

At Topia, total production was 358,737 silver equivalent ounces, an increase of 7% over the previous quarter. The rise was attributed to higher silver grades due to the increased proportion of production from higher silver grade zones and improved metallurgical recoveries.

"While production during the second quarter was somewhat lower than planned due to heavier than usual rainfall at our Guanajuato Mine Complex, we continue to expect to meet our production guidance for 2018", James Bannantine, Great Panther's president and chief executive, told investors.

"In addition, we are very pleased with the positive results of our recently announced preliminary economic assessment for the Coricancha mine in Peru.

"We have now begun preparations for the bulk sample program and look forward to providing further updates as we continue to advance the project."

Great Panther noted that it was repeating its 2018 production, cash cost and AISC (all in sustaining costs) guidance but cautioned that cash cost and AISC were very sensitive to the Mexican peso foreign exchange rate and metal prices.

The miner puts total silver equivalent production for the year at between 4mln and 4.1mln ounces, with cash costs of US$5 to US$6.50. ASIC is put at US$12.50 to US$14.50.

Shares eased 0.67% to C$1.48 each in Toronto.

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Tue, 10 Jul 2018 12:22:00 -0400 http://www.proactiveinvestors.com/companies/news/200509/great-panther-silver-repeats-2018-guidance-as-it-unveils-second-quarter-production-stats-200509.html
<![CDATA[News - Great Panther Silver holds annual general meeting; re-elects directors ]]> http://www.proactiveinvestors.com/companies/news/198567/great-panther-silver-holds-annual-general-meeting-re-elects-directors-198567.html Great Panther Silver Ltd. (TSX:GPR; NYSE:GPL) today announced results from its annual general meeting, held 7 June 2018. 

A total of 93,649,355 votes were cast, representing 55.5% of the issued and outstanding common shares as of the record date for the meeting.

All of the director nominees were elected by shareholders present or represented by proxy. 

WATCH: Great Panther Silver CEO says Coricancha PEA results indicate its a 'robust' economic project

Directors elected include: R.W. (Bob) Garnett, Robert A. Archer, John Jennings, W.J. (James) Mullin, Elise Rees, James M. Bannantine and Jeffrey R. Mason. 

Shareholders voted 98.4% in favour of setting the number of directors at seven and 97.4% in favour of appointing KPMG LLP as auditor. 

The company recently announced results of a preliminary economic assessment (PEA) done for its Peru project, which showed robust numbers and low capital costs. Coricancha is a gold-silver-lead-zinc-copper underground mine and mill complex. 

Great Panther Silver shares closed at C$1.57 on Friday. 

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Fri, 08 Jun 2018 19:38:00 -0400 http://www.proactiveinvestors.com/companies/news/198567/great-panther-silver-holds-annual-general-meeting-re-elects-directors-198567.html
<![CDATA[Media files - Great Panther Silver CEO says Coricancha PEA results indicate its a 'robust' economic project ]]> http://www.proactiveinvestors.com/companies/stocktube/9425/great-panther-silver-ceo-says-coricancha-pea-results-indicate-its-a-robust-economic-project-9425.html Fri, 01 Jun 2018 13:39:00 -0400 http://www.proactiveinvestors.com/companies/stocktube/9425/great-panther-silver-ceo-says-coricancha-pea-results-indicate-its-a-robust-economic-project-9425.html <![CDATA[News - Great Panther Silver hails PEA for Peru project, which puts net present value at US$16.6mln ]]> http://www.proactiveinvestors.com/companies/news/198024/great-panther-silver-hails-pea-for-peru-project-which-puts-net-present-value-at-us166mln-198024.html Precious metals producer Great Panther Silver Ltd (TSX:GPR; NYSE:GPL) has hailed the results of a  preliminary economic assessment (PEA) for its Peru project, which showed robust numbers and low capital costs.

Coricancha is a gold-silver-lead-zinc-copper underground mine and mill complex, 90 km east of the capital Lima.

READ: Great Panther Silver set to unveil preliminary economic assessment for Peru project

The document assumes using standard cut-and-fill and resue mining techniques providing ore to support a target annual throughput rate of 550 tonnes per day (tpd) to the mill.

Using base case metal prices, including gold at US$1,300 per ounce and silver at US$16.50 an ounce, Great Panther said the mine was estimated to generate an after-tax net present value (NPV) of US$16.6mln and an after-tax internal rate of return (IRR) of 81%.

Operating costs were pegged at US$55.71 per tonne mining, US$68.83 per tonne processing, and US$23.52 per tonne for general and administration, for a total cost of US$148.06 per tonne.

Cash costs were estimated to be US$14.06 per payable silver ounce, or US$70 per payable gold ounce over the life of the mine.

All-in sustaining costs were estimated by the report to be US$2.20 per payable silver ounce, or US$547 per payable gold ounce, over the life of the mine.

The mine plan envisages 608,053 tonnes being processed over a life of mine (LOM) of 3.75 years, with 193,500 tonnes of annual average throughput.

"We are very pleased with the results of the Coricancha PEA as it confirms the potential for average annual production of three million silver-equivalent ounces and estimates an after-tax internal rate of return in excess of 80%, with low capital costs", said James Bannantine, the president and chief executive at Great Panther.

"We look forward to advancing Coricancha by building on the PEA and gaining a better understanding of the potential of the project as we begin preparations for full-scale mining and milling."

Start of trial stope and bulk sample program

With the report now completed, Great Panther will advance the project, it said, with the start of a trial stope and bulk sample program early in the third quarter this year.

The aim of this bulk sample is to provide confirmation of expectations regarding throughput, grades, and recoveries.

The company said it will leverage its expertise in developing and operating underground, narrow vein mines in Mexico to advance the project.

Existing infrastructure in place includes a crushing and grinding plant, flotation and bio-oxidation plant, electrical and water supply, plus existing mine access development.

It is worth noting that Great Panther has identified several opportunities to further enhance the economics of the project and increase the life of mine.

Great Panther shares were unchanged at C$1.61 each.

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Thu, 31 May 2018 09:34:00 -0400 http://www.proactiveinvestors.com/companies/news/198024/great-panther-silver-hails-pea-for-peru-project-which-puts-net-present-value-at-us166mln-198024.html
<![CDATA[News - Great Panther Silver set to unveil preliminary economic assessment for Peru project ]]> http://www.proactiveinvestors.com/companies/news/197937/great-panther-silver-set-to-unveil-preliminary-economic-assessment-for-peru-project-197937.html Precious metals producer Great Panther Silver Ltd (TSX:GPR; NYSE:GPL) is set to release the results of the preliminary economic assessment (PEA) for its 100% owned Coricancha gold-silver-lead-zinc-copper underground mine and mill complex in Peru on May 31 before the market opens.

Earlier this month, Great Panther posted a 38% year-on-year rise in its three months to end-March period, thanks to the normal operation of the Topia processing plant and an increase in gold prices.

READ: Great Panther Silver reports 38% hike in first quarter revenue as focus continues on Coricancha project

In the first quarter, revenue rose to US$4.6mln, while at period end, the firm had cash and short-term deposits of US$60.9mln, compared with US$56.9mln end December 2017.

Jim Bannantine, president and chief executive, had said: “Our balance sheet remains strong and our cash position increased to just over $60-million as we continue to fund Coricancha from the cash flows from our operations in Mexico.

The company said based on historic production records, Coricancha in the central Andes of Peru, has the potential to add 3 mln AgEq (silver equivalent) ounces of annual production.

Great Panther Silver said depending on the outcome of the evaluations on Coricancha, “investments in connection with a restart of the mine could commence in 2018”.

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Wed, 30 May 2018 09:27:00 -0400 http://www.proactiveinvestors.com/companies/news/197937/great-panther-silver-set-to-unveil-preliminary-economic-assessment-for-peru-project-197937.html
<![CDATA[News - Great Panther Silver's Chief Operating Officer Soltani to step down from current role ]]> http://www.proactiveinvestors.com/companies/news/196478/great-panther-silver-s-chief-operating-officer-soltani-to-step-down-from-current-role-196478.html Great Panther Silver Limited (TSX:GPR, NYSE:GPL) said Ali Soltani will be stepping down from his role as chief operating officer of the Vancouver-based silver mining company effective 31 May 2018.

Great Panther said Soltani will continue to provide services on a part-time basis until 30 September 2018 as senior technical adviser to Great Panther's management team.

"On behalf of the board and all the employees of Great Panther, I want to sincerely thank Ali for his dedicated service to the company as COO and wish him the best in his next chapter," Jim Bannantine, Great Panther president and CEO, said. "Ali joined us in 2014, and we have benefited greatly from his leadership, expertise and extensive experience in the mining industry."

Soltani said there is "never a perfect time to leave an organization like Great Panther. However, I believe the team the company has in place to execute on current operations, develop projects and grow the business is strong, so I can start to transition now with the comfort that the company has a promising future."

Most recently, Soltani served as the lead executive for Great Panther's Coricancha Project in Peru. Great Panther said it remains on track to deliver an updated technical study on Coricancha before the end of the second quarter, and Soltani will continue to support the project over the following months in his capacity as senior technical adviser.

Great Panther said its current activities are focused on the mining of precious metals from its two wholly owned operating mines in Mexico: the Guanajuato Mine Complex and the Topia Mine. The company also is evaluating the restart of the Coricancha Mine, which it acquired in 2017, and continues to pursue the acquisition of additional mining operations or projects in the Americas.

The company did not indicate whether it will fill the COO role.

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Mon, 07 May 2018 09:53:00 -0400 http://www.proactiveinvestors.com/companies/news/196478/great-panther-silver-s-chief-operating-officer-soltani-to-step-down-from-current-role-196478.html
<![CDATA[News - Great Panther Silver reports 38% hike in first quarter revenue as focus continues on Coricancha project ]]> http://www.proactiveinvestors.com/companies/news/196354/great-panther-silver-reports-38-hike-in-first-quarter-revenue-as-focus-continues-on-coricancha-project-196354.html Great Panther Silver Ltd (TSE: GPR, NYSE: GPL) has reported a 38% year-on-year rise in its three months to end-March period, thanks to the normal operation of the Topia processing plant and an increase in gold prices.

The Topia plant in the Sierra Madre Mountains in Durango, north western Mexico, was suspended for planned upgrades in the first quarter last year, Jim Bannantine, president and chief executive officer said in a statement.

READ: Great Panther Silver sees 'significantly' improved production at Mexico mines in first quarter

In the first quarter, revenue rose to US$4.6mln.

As of end March, the company had cash and short-term deposits of US$60.9mln, compared with US$56.9mln end December 2017, up due to cash generated by operating activities, proceeds from its stock options exercise and foreign exchange gains on cash balances.

The company's production and cost guidance for the year ending 31 Dec 2018 remains unchanged. It has also maintained its guidance for capital expenditures and Exploration, Evaluation and Development (EE&D) expenses for the full year. 

“We continue to focus our efforts on advancing the Coricancha project, and we expect to release an economic study before the end of this quarter.”

Bannantine added: “Our balance sheet remains strong and our cash position increased to just over $60-million as we continue to fund Coricancha from the cash flows from our operations in Mexico.

The company said based on historic production records, Coricancha in the central Andes of Peru, has the potential to add 3 mln AgEq ounces of annual production.

Great Panther Silver said depending on the outcome of the evaluations on Coricancha, “investments in connection with a restart of the mine could commence in 2018.”

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Thu, 03 May 2018 08:59:00 -0400 http://www.proactiveinvestors.com/companies/news/196354/great-panther-silver-reports-38-hike-in-first-quarter-revenue-as-focus-continues-on-coricancha-project-196354.html
<![CDATA[Media files - Great Panther Silver reports 'right on plan' production results ]]> http://www.proactiveinvestors.com/companies/stocktube/9082/great-panther-silver-reports-right-on-plan-production-results-9082.html Tue, 17 Apr 2018 16:45:00 -0400 http://www.proactiveinvestors.com/companies/stocktube/9082/great-panther-silver-reports-right-on-plan-production-results-9082.html <![CDATA[News - Great Panther Silver sees 'significantly' improved production at Mexico mines in first quarter ]]> http://www.proactiveinvestors.com/companies/news/194642/great-panther-silver-sees-significantly-improved-production-at-mexico-mines-in-first-quarter-194642.html Great Panther Silver Ltd (TSE: GPR, NYSE: GPL) enjoyed 'significantly' improved output from its two Mexico mines in the first quarter compared to the same period in 2017, it told investors.

Total metal production from the Guanajuato mine complex and the Topia mine was up 42% to around 1.031mln silver equivalent ounces in the three months.

Silver production was up 35%, while gold output was lifted 13%.

Ore processed was lifted 17% to 96,869 tonnes of material milled.

"Great Panther's first quarter production improved significantly compared to the first quarter last year when the Topia plant was suspended for planned upgrades", said James Bannantine, president and chief executive.

"To date in 2018, our Mexican operations are performing steadily, with production in line with annual guidance, and we are continuing to make progress on the technical evaluation of the Coricancha Mine in Peru."

Looking ahead, the miner reiterated its 2018 production guidance of between 4mln and 4.1mln of silver equivalent ounces.

There was also no change to 2018 guidance for cash cost per silver ounce (cash cost) and all-in sustaining cost per payable silver ounce (AISC) of between US$5.00 to US$6.50 and US$12.50 to US$14.50, respectively.

"The focus for 2018 continues to be on maintaining steady and efficient operations in Mexico, while advancing the company's Coricancha Mine in Peru to set a platform for production growth in 2019 and 2020," added Great Panther.

It noted that while still being assessed, based upon historic production records, Coricancha had the potential to add 3mln silver equivalent ounces of annual production. 

"In addition, the company continues to seek and evaluate additional acquisition opportunities to meet the company's growth objectives," it added.

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Tue, 10 Apr 2018 09:23:00 -0400 http://www.proactiveinvestors.com/companies/news/194642/great-panther-silver-sees-significantly-improved-production-at-mexico-mines-in-first-quarter-194642.html
<![CDATA[News - Great Panther Silver embarking on new phase of expansion and growth, supported by solid suite of Mexican assets ]]> http://www.proactiveinvestors.com/companies/news/192263/great-panther-silver-embarking-on-new-phase-of-expansion-and-growth-supported-by-solid-suite-of-mexican-assets-192263.html Expect plenty of action from Great Panther Silver (TSE:GPR) in the coming months.

New chief executive James Bannantine is now beginning to get his feet under the desk, and used to the idea that he has a company with two producing mines, one potential mine, and enough cash in the bank to buy at least one more project outright, before the option of issuing paper has even crossed anyone’s mind.

READ: Great Panther Silver says it delivered on all production targets and made significant investments in 2017

Indeed, it’s an enviable position.

Great Panther’s Guanajuato and Topia mines in Mexico both have long-established track records of production. In the most recent set of financials, for the year to 31 Dec 2017, they accounted for US$64mln of revenue and mine operating earnings before non-cash items of US$22mln.

All-in sustaining costs are running at US$14.72 per ounce of silver equivalent, allowing for decent enough margin at today’s prevailing silver price of well over US$16.00, and quarter-on-quarter costs are on a downward trajectory.

But as he sits down to begin a short presentation to a select gathering of interested fund managers in London, Bannantine’s opening remarks set the tone for what is to follow.

“I think Great Panther should be bigger,” he says.

“That’s why I’m here. We have positive net income and positive cashflow as a foundation, and there’s value in the existing operations with nothing new added.”

But an addition has already been lined up. Last year, Great Panther finalised the acquisition of the previously-worked Coricancha project in Peru, and putting this into production will be one of Bannantine’s key priorities.

The potential returns are significant. Great Panther picked this project up from Nyrstar for US$100,000, securing as part of the transaction a closure bond from Nyrstar to cover any potential environmental costs if the project doesn’t go ahead.

“We’re optimistic on the potential of this mine,” says Bannantine. “The key is to generate enough ore feed to the plant. Our plan is to expand the number of working faces on the mine.”

It’s an operation that will require considerable skill.

“It’s a 60cm vein,” explains Bannantine. “So it’s very narrow. It needs to be mined carefully. But we have a definite plan for that in a design that will be published in April or May in an updated feasibility study.”

Overall, the idea is that Coricancha will add around 3mln ounces of silver production to the existing 4mln ounces that comes out of Guanajuato and Topia per year.

It will be a significant forward bound, but don’t expect the growth to stop there.

Great Panther is currently sitting on a cash pile of around US$60mln, with no debt spike the strength of that firepower.

“We intend to use this money to acquire another project,” says Bannantine.

READ: Great Panther Silver unveils near doubling of estimate of mineral resources at Guanajuato

Precisely when or where isn’t yet clear, but the preferred locations for any target are Mexico, Peru, Brazil and Colombia, in that order. The ideal project would either be silver or gold, and would be in the later stages of development - “something that’s either operating or needs fixing,” says Bannantine.

Interest in such a deal when it’s finally put together is likely to be significant. There’s a general consensus that the mining markets are now on the turn, although Bannantine, as a former private equity fund manager himself, notes that there has been no general switch into mining quite yet.

If it’s underway by the time Great Panther inks its deal, then there could be significant potential for a real boost to the share price.

And that’s not the only upside. More immediate perhaps is the potential benefit from improved metals prices. Gold and silver have already both demonstrated a propensity to new strength this year, and if the dollar stays weak and metals prices soar, the read-across to Great Panther will be significant.

“In silver,” explains Bannantine, “if the price goes up 20%, your stock price can go up by 80% because margin goes up by 80%.”

That’s the benefit of a fixed-cost base, and the proof can be found straightforwardly enough in Great Panther’s own share price, which rose significantly at the beginning of 2016, when silver took its first run towards US$20.00 in a couple of years.

This is a company with strength in depth, and a bright future ahead of it.

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Tue, 27 Feb 2018 07:03:00 -0500 http://www.proactiveinvestors.com/companies/news/192263/great-panther-silver-embarking-on-new-phase-of-expansion-and-growth-supported-by-solid-suite-of-mexican-assets-192263.html
<![CDATA[News - Great Panther Silver says it delivered on all production targets and made significant investments in 2017 ]]> http://www.proactiveinvestors.com/companies/news/192135/great-panther-silver-says-it-delivered-on-all-production-targets-and-made-significant-investments-in-2017-192135.html Great Panther Silver Ltd’s (TSE:GPR) said it had delivered on its expected production targets and had made significant investments in 2017.

In a statement announcing its 2017 fiscal results, the company said it “delivered a modest increase in revenue” and posted record production at its Topia operations.

READ: Great Panther Silver unveils near doubling of estimate of mineral resources at Guanajuato

In addition, it also completed plant upgrades, installed a tailings handling facility at Topia and saw a significant increase in the Mineral Resource Estimate at the GMC, and completed the purchase of Coricancha.

Jim Bannantine, the President and CEO said that these activities were “were funded by our operating cash-flow as we improved our cash position” and kept its balance sheet debt-free.

In the year ended December 31, 2017, Great Panther Silver saw revenues rise 3% year-on-year to US$63.7mln from US$61.9mln, primarily due to the increase in production ounces (on a silver equivalent basis) and improved average realised metal prices.

Higher production costs however saw mine operating earnings before non-cash items of US$22.0mln fall by 21% from the year before.

The increased drilling activities at its operating mines in Mexico and ongoing costs to progress the Coricancha project in Peru also resulted in an increase in exploration and evaluation expenditures in 2017.

The company recorded a net income of US$1.3mln in 2017, against a net loss of US$4.1mln in 2016.

Focus in 2018

For 2018, the company expects production to be in the range of 4.0 to 4.1mln Ag eq oz (at a 70:1 silver to gold ratio).

The company said the focus in 2018 will be to maintain steady and efficient operations in Mexico, while advancing the Coricancha Mine to set a platform for production growth in 2019 and 2020.

READ: Great Panther reports record silver equivalent ounces from Topia mine last year

It believes, based on historic production records, the mine has the potential to add 3 million Ag eq oz of annual production.

The Company is conducting evaluations of the mine and processing infrastructure and undertaking certain environmental studies. Remediation activities are also being conducted.

Depending on the outcome of the evaluations, investments in support of a restart of mine development could commence in 2018.

The Company plans to release additional technical studies for the project in the second quarter of 2018.

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Fri, 23 Feb 2018 11:23:00 -0500 http://www.proactiveinvestors.com/companies/news/192135/great-panther-silver-says-it-delivered-on-all-production-targets-and-made-significant-investments-in-2017-192135.html
<![CDATA[News - Great Panther Silver establishes safety award in honour of director ]]> http://www.proactiveinvestors.com/companies/news/192083/great-panther-silver-establishes-safety-award-in-honour-of-director-192083.html Great Panther Silver Ltd (TSE:GPR) said director Kenneth W. Major passed away on February 21.

A graduate of McGill University, he enjoyed a highly successful career in the mining industry spanning more than 40 years.

He provided engineering, operations and management services to major mining companies including Newmont Mining, Goldcorp, and Agnico-Eagle.

He was a founder/partner of Rescan Engineering Ltd, which provides feasibility study and  engineering services, which was later acquired by Hatch.

In his honour, Great Panther has established the Kenneth W. Major safety award to recognise employees each year who exemplify Ken's value of safety in the workplace.

"Ken was a dedicated member of the board, strong proponent of safety, and a dear friend and colleague," said R.W. (Bob) Garnett, Great Panther's chairman.

"Ken leaves behind many grateful colleagues and good friends in the mining industry and his positive and endearing character will be greatly missed.

"The entire board of directors and management of Great Panther are indebted to Ken for his significant contributions to the Company and wish to offer our heartfelt condolences to his wife Roberta, his children and extended family."

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Thu, 22 Feb 2018 15:41:00 -0500 http://www.proactiveinvestors.com/companies/news/192083/great-panther-silver-establishes-safety-award-in-honour-of-director-192083.html
<![CDATA[News - Great Panther Silver unveils near doubling of estimate of mineral resources at Guanajuato ]]> http://www.proactiveinvestors.com/companies/news/190699/great-panther-silver-unveils-near-doubling-of-estimate-of-mineral-resources-at-guanajuato-190699.html Great Panther Silver Ltd (TSE:GPR) announced an updated mineral resources estimate for its Guanajuato mine complex (GMC) in Mexico.

Estimated measured and indicated mineral resources at the GMC increased 91% from the previous estimate back in February of 2016 to 13.62mln silver equivalent ounces (Ag eq oz) due to increases in both resource categories at both the San Ignacio and Guanajuato mines. 

Estimated measured mineral resources doubled to 11.11mln Ag eq oz, with the San Ignacio mine increasing by 121% to 9.28mln Ag eq oz and the Guanajuato mine increasing by 33% to 1.83mln Ag eq oz. 

Estimated indicated mineral resources at the GMC increased 58% to 2.51mln Ag eq oz (San Ignacio: +69% to 2.08mln Ag eq oz ; Guanajuato: + 22% to 428,190 Ag eq oz). 

Estimated inferred mineral resources at the GMC remain ore or less the same at 7mln Ag eq oz. 

The current mineral resource update includes 54 additional underground drill holes (10,251 metres) at the Guanajuato mine and 41 additional underground drill holes (7,860 metres) at the San Ignacio mine drilled after the August 31, 2016 mineral resource update, Great Panther said.

"We are excited to announce an almost doubling of the estimated measured and indicated mineral resource at the GMC to over 13 million silver equivalent ounces," stated James Bannantine, the president and chief executive officer of Great Panther.

"This is a strong testament to our ability to continue to develop new mineral resources at the GMC and expand its potential. In this regard, we have over 24,000 metres of drilling planned for the GMC in 2018, which we believe will continue to add to the mineral resource inventory," he added.

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Thu, 25 Jan 2018 16:52:00 -0500 http://www.proactiveinvestors.com/companies/news/190699/great-panther-silver-unveils-near-doubling-of-estimate-of-mineral-resources-at-guanajuato-190699.html
<![CDATA[News - Great Panther reports record silver equivalent ounces from Topia mine last year ]]> http://www.proactiveinvestors.com/companies/news/189908/great-panther-reports-record-silver-equivalent-ounces-from-topia-mine-last-year-189908.html Great Panther Silver Ltd's (TSE:GPR) Topia mine in Mexico achieved a record silver equivalent output in 2017, the firm said, adding the the focus for this year will be to maintain steady and efficient operations.

The firm operates the Topia mine in Durango and the Guanajuato mine complex (GMC), which includes the San Ignacio mine, in Mexico.

Output at Topia was 1,086,663 of silver equivalent ounces last year - 21% higher than in 2016.

Consolidated metal production increased 2% in the year to around 3.98mln ounces, with gold production up 1% and silver down 3%.

Up 21% in fourth quarter..

Metal production in  the fourth quarter was up 21% versus the same period in 2016, while  silver and gold output was up 12% and 14% respectively.

"Great Panther's 2017 production was consistent with the previous year, however, this was a considerable achievement given the work completed to accommodate the tailings expansion and plant improvements at the Topia mine in the first quarter of the year," said James Bannantine, president and chief executive.

"We are also pleased with the recent completion of the permitting process for the phase II tailings-storage facility at Topia.

"While the regulatory process took longer than we expected, our team did an outstanding job of maintaining operations by extending capacity while improving the state of the existing facility."

Looking ahead to 2018 output..

Looking ahead to 2018, the miner expects production to come in at 4mln to 4.1mln ounces of silver equivalent.

The all-in sustaining cost per payable silver ounce guidance for 2018 is US$12.50 to US$14.50 respectively, though the firm warned this was sensitive to the Mexican peso foreign exchange rate and metal prices.

"The focus for 2018 will be to maintain steady and efficient operations in Mexico, while advancing the company's Coricancha mine in Peru to set a platform for production growth in 2019 and 2020.

"While still in the early stage of evaluation, based upon historic production records, Coricancha has the potential to add three million Ag eq oz of annual production," Great Panther said.

The firm expects to release an updated NI 43 -101 resource estimate for the GMC later this month.

Great Panther shares in Toronto nudged 0.59% higher at C$1.71 each.

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Thu, 11 Jan 2018 14:37:00 -0500 http://www.proactiveinvestors.com/companies/news/189908/great-panther-reports-record-silver-equivalent-ounces-from-topia-mine-last-year-189908.html
<![CDATA[News - Great Panther Silver's new resource estimate for Coricancha underscores project's potential ]]> http://www.proactiveinvestors.com/companies/news/189109/great-panther-silver-s-new-resource-estimate-for-coricancha-underscores-project-s-potential-189109.html Great Panther Silver Ltd's (TSE:GPR) plan to add an operations base in Peru moved a step closer - as it unveiled a new resource estimate for its Coricancha mine project.

The total in the higher confidence measured and indicated resource category was 24.2mln silver equivalent ounces from over 752,000 tonnes of material.

READ - Great Panther Silver gets green-light for new Topia tailings facility READ - Great Panther Silver on track for production guidance for full year after third quarter numbers

In the inferred category,  silver equivalent ounces came in at 28.36mln from over 943,000 tonnes.

This compared to 21.96mln measured and indicated silver equivalent ounces from 890,000 tonnes in 2012, and 124.6mln ounces from around 4.8mlmn tonnes in the inferred category.

"The measured and indicated tonnes and grades in this mineral resource estimate compare well with those from the historical resource estimate of 2012, providing a high degree of confidence in the results," said Great Panther.

"The tonnes in the inferred category are now lower due to the different search parameters used but it may be possible to replace these tonnages with additional drilling."

James Bannantine, Great Panther's president and chief executive, added: "This resource update confirms the potential in the Coricancha mine area and allows the company to initiate additional engineering studies required to support a positive production decision.

"We are all very excited about the prospects for the Coricancha mine and look forward to taking the next step in Great Panther's growth strategy by adding a base of operations in Peru."

The company is now completing optimization studies and is mulling alternative mining methods to reduce costs and project risk.

The company plans to release additional technical studies for the project in the second quarter of 2018.

Great Panther has two wholly owned operating mines in Mexico - the Guanajuato mine complex and the Topia mine in Durango.

It is assessing the restart at Coricancha  in Peru, which it acquired earlier in 2017.

The Coricancha mine complex (CMC), on care and maintenance since 2013, is a fully permitted polymetallic mine that includes an operational 600-tonne-per-day flotation and gold bio-leach plant along with supporting infrastructure.

Great Panther Silver shares gained 7.74% in Toronto to C$1.67 each.

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Wed, 20 Dec 2017 10:03:00 -0500 http://www.proactiveinvestors.com/companies/news/189109/great-panther-silver-s-new-resource-estimate-for-coricancha-underscores-project-s-potential-189109.html
<![CDATA[News - Great Panther Silver gets green-light for new Topia tailings facility ]]> http://www.proactiveinvestors.com/companies/news/188968/great-panther-silver-gets-green-light-for-new-topia-tailings-facility-188968.html Great Panther Silver Ltd's (TSE:GPR) Topia mine in Mexico received a boost - as the relevant environmental authority had granted all permits for a new tailings storage facility.

SEMARNAT has granted all permits for the construction and operation of the new Phase II tailings storage facility (TSF) at the mine in Durango state.

"We are pleased with the conclusion of the permitting process without interruption of operations at Topia", said James Bannantine, the president and chief executive.

"We will be commencing imminently the construction of Phase II and have sufficient remaining capacity at Phase I to continue mining operations allowing a seamless transition to deposition at Phase II," he added.

Great Panther's has two wholly-owned operating mines in Mexico -  the Guanajuato Mine Complex and the Topia Mine in Durango.

It is also assessing the restart of the Coricancha Mine in Peru, which it acquired earlier this year; and continues to pursue the acquisition of additional mining operations or projects in the Americas.

Shares in  Toronto eased 1.29% to C$1.53.

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Mon, 18 Dec 2017 12:01:00 -0500 http://www.proactiveinvestors.com/companies/news/188968/great-panther-silver-gets-green-light-for-new-topia-tailings-facility-188968.html
<![CDATA[News - Great Panther Silver on track for production guidance for full year after third quarter numbers ]]> http://www.proactiveinvestors.com/companies/news/186518/great-panther-silver-on-track-for-production-guidance-for-full-year-after-third-quarter-numbers-186518.html Great Panther Silver Ltd (TSE:GPR) revealed revenues increased 17% to US$18.3mln in its third quarter compared to the same period last year, and that its Mexico operations had delivered production in line with its full year guidance.

The firm mines precious metals from its two wholly-owned projects in Mexico: the Guanajuato Mine Complex and the Topia Mine in Durango.

READ - Great Panther Silver third quarter production output rises, maintains 2017 guidance

It is also bidding to restart development of the Coricancha Mine in Peru.

The group posted, however, a loss for the three months to end September, despite the rise in revenues, at US$0.7mln, compared to a net income of US$2.1mln for the same period last year.

This was mainly down to a US$1.2 million increase in exploration, evaluation and development (EE&D ) expenditures reflecting the first full quarter of the Coricancha project and its care and maintenance costs since the closing of the acquisition on June 30 this year, Great Panther said.

Also, mine operating earnings before non-cash items from the Mexican operations were lower than the third quarter last year due to a less favorable Mexican peso to US dollar foreign exchange rate, and higher unit production cost.

"The third quarter was a very successful and eventful quarter for Great Panther," said  Jim Bannantine,  the group's president and chief executive.

"Our Mexican operations delivered production in support of our guidance for the year and continued to advance the permitting of the new tailings facility at Topia.

"After closing the acquisition of Coricancha just before the start of the third quarter, we quickly turned our attention to advancing a resource update and on engineering and environmental studies, and other evaluations in support of a decision to restart mine development. I am pleased that we continue to maintain a strong balance sheet with $55 million of cash and deposits, no debt and strong liquidity of our shares.

"These factors along with a solid management team put us in a good position to pursue acquisitions," he added.

Gold production  in the three months increased 8% to 5,848 ounces, while silver output added 4% to 532,803 ounces.

AISC (all-in-sustaining costs) increased 15% to US$13.75 an ounce, while the cash cost increased to US$5.82 from US$3.30 per ounce.

The firm had cash of US$55.5mln as at September 30 versus US$56.7mln at the end of 2016.

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Tue, 31 Oct 2017 12:49:00 -0400 http://www.proactiveinvestors.com/companies/news/186518/great-panther-silver-on-track-for-production-guidance-for-full-year-after-third-quarter-numbers-186518.html
<![CDATA[News - Great Panther Silver third quarter production output rises, maintains 2017 guidance ]]> http://www.proactiveinvestors.com/companies/news/185532/great-panther-silver-third-quarter-production-output-rises-maintains-2017-guidance-185532.html Great Panther Silver Inc (TSE:GPR) released its third quarter production results for its two wholly owned Mexican silver mining operations which saw increased output in silver, gold, lead and zinc.

In a statement, the company said consolidated metal production rose 13% to 1,080,483 silver equivalent ounces (Aq eq oz) from its Topia mine in Durango and the Guanajuato mine complex (GMC), which includes the San Ignacio mine.

READ: Coricancha project adds 'blue sky' to Great Panther Silver story, says Lundin

The output was as follows:

Silver production increased 4% to 532,803 silver ounces ("Ag oz") Gold production increased 8% to 5,848 gold ounces ("Au oz") Lead and zinc production increased 78% and 74%, respectively Ore processed decreased 1%, with 94,080 tonnes milled

James Bannantine, the company’s president and CEO said: "The results are consistent with the previous quarter and fall in line with the Company's annual guidance."

READ: Great Panther Silver bolsters senior team with Wunder and Peer

He attributed the increase in gold production compared ot the second quarter to “a direct result of the improved gold grades and recoveries."

Despite the increased output, the company is sticking to its 2017 guidance of 4.0 - 4.1 mln Ag eq oz (based on a 70:1 silver:gold ratio).

Topia Phase II tailings facility

The silver mining company also said that it is still awaiting final approvals for the Topia Phase II tailings facility. Since its formal application in July, the environmental assessment study has lapsed and requires resubmission with the inclusion of expanded technical information.

It plans to file this by mid-October and a response to the resubmitted study and the overall permitting is expected within two months of filing.

WATCH: Great Panther Silver's processing deal a 'win-win', says CEO Robert Archer

The Company is also currently working on an updated Mineral Resource Estimate for the recently acquired Coricancha Mine Complex ("CMC") in Peru, which is on care and maintenance.

The updated Mineral Resource Estimate is now expected to be completed in the current quarter.

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Thu, 12 Oct 2017 12:13:00 -0400 http://www.proactiveinvestors.com/companies/news/185532/great-panther-silver-third-quarter-production-output-rises-maintains-2017-guidance-185532.html
<![CDATA[News - Coricancha project adds 'blue sky' to Great Panther Silver story, says Lundin ]]> http://www.proactiveinvestors.com/companies/news/184688/coricancha-project-adds-blue-sky-to-great-panther-silver-story-says-lundin-184688.html Brien Lundin, editor of the Gold Newsletter, has taken another look at producer Great Panther Silver Ltd (TSE:GPR) and repeated a 'buy' stance.

The miner recently decided to expand beyond its core silver mining operations in Mexico by acquiring the past-producing Coricancha project in Peru, he notes.

The company previously had Coricancha under option from mid-2015 to mid-2016.

During then, the firm completed a 33-hole drill program, with highlight assays including 0.53 metres of 10.46 grams per tonne (g/t) gold, 388 g/t silver, 1.64% copper, 0.53% lead and 2.86% lead.

Lundin notes that these intersections are similar to those that Great Panther encountered at its Mexican assets, which, he notes, are currently operating on the "very edge of profitability", but will turn "lucrative" quickly once silver prices go north.

Coricancha adds "a substantial amount of blue sky" in the meantime, he adds.

Earlier this month, Great Panther reassured shareholders that the mine in question -  Coricancha - suffered no damage from a recent earthquake.

There was an earthquake in the central region of Peru with a magnitude of 4.6, as reported by the US Geological Survey, but happily, after inspecting the mines, tailing facilities and processing plant, there appears to be no damage.

The CMC is currently on care and maintenance.

Great Panther shares closed yesterday in New York at US$1.24 each.

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Wed, 27 Sep 2017 09:05:00 -0400 http://www.proactiveinvestors.com/companies/news/184688/coricancha-project-adds-blue-sky-to-great-panther-silver-story-says-lundin-184688.html
<![CDATA[News - Great Panther Silver says Coricancha mine undamaged by recent earthquake in central Peru ]]> http://www.proactiveinvestors.com/companies/news/184087/great-panther-silver-says-coricancha-mine-undamaged-by-recent-earthquake-in-central-peru-184087.html Great Panther Silver Ltd (TSE:GPR) reassured shareholders its Coricancha mine complex suffered no damage from a recent earthquake.

There was an earthquake in the central region of Peru with a magnitude of 4.6, as reported by the US Geological Survey, but happily, after inspecting the mines, tailing facilities and processing plant, there appears to be no damage.

In addition, all employees and consultants of the company at Coricancha (CMC) were reported to be safe.

The CMC is currently on care and maintenance.

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Fri, 15 Sep 2017 09:58:00 -0400 http://www.proactiveinvestors.com/companies/news/184087/great-panther-silver-says-coricancha-mine-undamaged-by-recent-earthquake-in-central-peru-184087.html
<![CDATA[News - Great Panther Silver bolsters senior team with Wunder and Peer ]]> http://www.proactiveinvestors.com/companies/news/182487/great-panther-silver-bolsters-senior-team-with-wunder-and-peer-182487.html Great Panther Silver Ltd (TSE:GPR) has beefed up its management with the appointment of two experienced mining industry executives.

Matthew Wunder has been hired as vice-president of exploration and has started already. Brian Peer will become vice-president of operations in Mexico from August 20.

A bright future....

"I am really pleased that Matt and Brian have joined us to round out the senior executive team," said Robert Archer, president and chief executive.

"I am confident that, under the new leadership of incoming president and CEO Jim Bannantine, Great Panther has a bright future."

Wunder has 30 years' experience in the mining industry, including 15 years with Noranda Inc.

He has successfully led multiple discoveries throughout the Americas and was recognized and honoured as co-recipient of the Colin Spence award for excellence in global mineral exploration.

Over the coming weeks, he will become the qualified person (QP) for Great Panther's operating mines and development projects, succeeding Robert Brown, who has retired.

Meanwhile, Peer has more than 30 years' mining experience, including 19 years in senior management.

His CV includes, Red Eagle Mining, Alamos Gold, Coeur Mining  and the major Barrick Gold for 10 years.  He has a bachelor of science degree in geology and is fluent in Spanish.

Coricancha results augur well..

Yesterday, Great Panther unveiled results from its Coricancha gold-silver-lead-zinc-copper project in the central Andes of Peru, which underscored the site's potential to be a mine.

The exploration consisted of 33 diamond drill holes in 2015 and 2016 and was conducted before the option was originally terminated before being renegotiated and finally closed this year.

The Coricancha mine complex (CMC), on care and maintenance since 2013, is a fully permitted polymetallic mine that includes an operational 600-tonne-per-day flotation and gold bio-leach plant along with supporting infrastructure.

An updated resource estimate is under way, incorporating all previous drilling and results from all underground sampling by previous owners.

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Tue, 15 Aug 2017 12:10:00 -0400 http://www.proactiveinvestors.com/companies/news/182487/great-panther-silver-bolsters-senior-team-with-wunder-and-peer-182487.html
<![CDATA[News - Great Panther Silver encouraged by Coricancha exploration drill results ]]> http://www.proactiveinvestors.com/companies/news/182412/great-panther-silver-encouraged-by-coricancha-exploration-drill-results-182412.html Drilling results from the Coricancha gold-silver-lead-zinc-copper project in the central Andes of Peru underscored the site's mine potential, says Great Panther Silver Ltd (TSE:GPR).

The exploration consisted of 33 diamond drill holes in 2015 and 2016 and was conducted before the option was originally terminated before being renegotiated and finally closed this year.

WATCH - Great Panther Silver's processing deal a 'win-win', says CEO Robert Archer READ - Great Panther strikes Coricancha processing deal; reports second quarter results

Three main veins were targeted -  Wellington, Constancia and Colquipallana -  and there was one new target  - the Animas vein.

Highlights include Wellington hole Cori-15-003, which hit 10.46 grams per tonne gold, 388 g/t silver, 1.64% copper, 0.53% lead and 2.86% zinc over a true width of 0.53 metres.

Meanwhile, Constancia hole Cori-15-13 intersected 22.64 g/t (grams per ton) gold, 83 g/t (grams per ton) silver, 0.19% copper, 1.12% lead and 2.30% zinc over a true width of 0.41 metres.

Only two holes were drilled on the Animas vein, believed to be the first holes ever on this target, and returned 3.64 g/t gold and 417 g/t silver over 0.41 metre and 1.50 g/t gold and 107 g/t silver over 1.20 metres, with minor base metals.

"The initial drilling results at Coricancha demonstrate the potential to extend known zones of high-grade mineralization," said Robert Archer,  the president and chief executive.

"The high gold and silver grades, good continuity, and significant exploration upside all underscore our optimism that Coricancha has the potential to be a new mine for the company.

"While the veins pinch and swell, we have extensive experience in mining narrow widths at our Topia mine in Mexico.

"Since closing the acquisition at the end of June, we have embarked on a comprehensive program of technical studies with the objective of returning the mine to production."

The Coricancha mine complex (CMC), on care and maintenance since 2013, is a fully permitted polymetallic mine that includes an operational 600-tonne-per-day flotation and gold bio-leach plant along with supporting infrastructure.

An updated resource estimate is under way, incorporating all previous drilling and results from all underground sampling by previous owners.

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Mon, 14 Aug 2017 14:14:00 -0400 http://www.proactiveinvestors.com/companies/news/182412/great-panther-silver-encouraged-by-coricancha-exploration-drill-results-182412.html
<![CDATA[Media files - Great Panther Silver's processing deal a 'win-win', says CEO Robert Archer ]]> http://www.proactiveinvestors.com/companies/stocktube/7917/great-panther-silver-s-processing-deal-a-win-win-says-ceo-robert-archer-7917.html Thu, 10 Aug 2017 16:23:00 -0400 http://www.proactiveinvestors.com/companies/stocktube/7917/great-panther-silver-s-processing-deal-a-win-win-says-ceo-robert-archer-7917.html <![CDATA[News - Great Panther strikes Coricancha processing deal; reports second quarter results ]]> http://www.proactiveinvestors.com/companies/news/181949/great-panther-strikes-coricancha-processing-deal-reports-second-quarter-results-181949.html Great Panther Silver Ltd (TSE:GPR) has made further progress in Peru - striking a deal with  Pan Andean Minerals to process ore at its (Great Panther's) Coricancha mill.

The Coricancha facilities, currently on care and maintenance, are about 15km from Pan Andean's Pucacorral and Chanape assets, and have previously seen output of concentrates containing silver, gold, zinc, copper and lead.

"We look forward to working with Great Panther and desire to make this relationship a win-win for both parties," said Gary Anderson, Pan Andean's chief executive.

Earlier this year, Great Panther closed its acquisition of the Coricancha gold-silver-lead-zinc-copper underground mine and mill complex (CMC), which lies around 90 km east of the city of Lima.

Resource update expected...

A resource update is expected to be completed in the third quarter of 2017.

Today's non-binding processing deal is dependent on Great Panther completing its prefeasibility study for Coricancha and having excess milling capacity for treating Pan Andean mineralized rock.

Record output for second quarter..

Yesterday, Great Panther posted is second quarter financials, which showed record production now its Topia Mine in Durango, Mexico, is running at full tilt.

Silver equivalent ounces for the three months came in at over 1.102mln versus 1.037mln in the same period of 2016.

Silver production from the group's two operating mines increased 6% to 569,229 ounces, while gold output fell 8% to 5,543 ounces, and the cash cost per silver equivalent ounce increased 19% to $11.47. AISC (all in sustaining costs) increased 108% to $14.93.

It all led to a net income of $833,000 against a loss of $1.3mln in the same period a year ago, on revenue, which was at $15.7mln, down 20% from the $19.5mln seen in the same period of 2016.

Chief executive Robert Archer summed it up: "I am pleased to report net income for the three and six-month periods ended June 30, 2017 of $0.8 million and $3.9 million, respectively, reflecting improvements from losses in the comparative periods.

"Great Panther was also able to deliver a record quarter of production with the Topia Mine now operating at planned capacity.

Coricancha a new growth opportunity..

"Additionally, with the recent closing of the acquisition of the Coricancha Mine Complex in Peru, the company embarks on a significant new opportunity for growth.

"Over the next few months we will be focusing on advancing a resource update, engineering studies, and underground development in support of additional drilling at Coricancha.

"We also continue to focus on additional growth and M&A opportunities, given our strong balance sheet with $57 million in cash and short-term deposits, and no long-term debt."

Yesterday, the miner revealed that Jim Bannantine will take up the role of chief executive on August 16 to succeed Robert Archer, who is stepping down, but who will remain on the board.

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Thu, 03 Aug 2017 12:20:00 -0400 http://www.proactiveinvestors.com/companies/news/181949/great-panther-strikes-coricancha-processing-deal-reports-second-quarter-results-181949.html
<![CDATA[News - Great Panther Silver names Jim Bannantine to succeed Robert Archer ]]> http://www.proactiveinvestors.com/companies/news/181866/great-panther-silver-names-jim-bannantine-to-succeed-robert-archer-181866.html Great Panther Silver Ltd (TSE:GPR) has found a new chief executive to succeed Robert Archer in the shape of experienced executive Jim Bannantine.

Archer announced his intention to step down in April this year. He will remain on the board.

READ - Great Panther's shares rise after it resubmits Topia permit application READ - Great Panther enjoys record quarter of consolidated metals production

"I have chosen this as the appropriate time to transition to a new CEO who can take Great Panther to the next level over a 5-7 year time horizon and I am really pleased to be able to pass the torch to someone of Jim's caliber," he said on Wednesday.

"This is a testament to the reputation we have built, the quality of our team and assets, the strength of our balance sheet and our growth potential."

Former US Army engineer Bannantine, who will take up the new role on August 16,  was most recently  President and CEO of Aura Minerals Inc (TSX: ORA).

This is a $200 million revenue gold and copper miner, and where he led a restructuring effort to significantly reduce both operating and G&A costs, while maintaining or increasing production.

He also held several positions over multiple years at Enron Corp, culminating as chief executive of Enron South America -  a $1.5bn revenue, 4,500 person roll up of energy assets.

He was also president and chief operating officer of Broadwing Corporation (NASDAQ: BWNG), an $880 million revenue, 1,700 person telecom rollup, turnaround and sale.

"Jim brings a record of exceptional leadership, growing companies and deep experience in Latin America," said Bob Garnett, Board Chair of Great Panther.

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Wed, 02 Aug 2017 10:13:00 -0400 http://www.proactiveinvestors.com/companies/news/181866/great-panther-silver-names-jim-bannantine-to-succeed-robert-archer-181866.html
<![CDATA[News - Great Panther's shares rise after it resubmits Topia permit application ]]> http://www.proactiveinvestors.com/companies/news/181656/great-panther-s-shares-rise-after-it-resubmits-topia-permit-application-181656.html Great Panther Silver Ltd (TSE:GPR) shares hardened after the company revealed it has resubmitted the permit application for the tailings storage facility at its Topia Mine.

The mid-tier producer said that, to the best of its knowledge, it has fulfilled the outstanding condition required by Semarnat (the Mexican environmental permitting agency) in connection with the phase 2 tailings storage facility (TSF) at its Topia mine.

The company reckons it should receive a response from Semarnat within 60 business days.

READ Great Panther Silver at full pelt after commissioning refurbished processing plant at Topia

"We are pleased with the progress on the permitting process at Topia and we will continue working closely with the Mexican authorities to obtain this permit in a timely manner", said Robert Archer, president & chief executive officer of Great Panther.

"During the response period, we plan to continue normal operations at Topia using the existing Phase I TSF."

The company believes that it will be able to obtain this permit without interruption of operations, but it is, of course, subject to events beyond its control.

Great Panther shares were up 0.6% at C$1.58 in early deals on Friday.

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Fri, 28 Jul 2017 10:57:00 -0400 http://www.proactiveinvestors.com/companies/news/181656/great-panther-s-shares-rise-after-it-resubmits-topia-permit-application-181656.html
<![CDATA[News - Great Panther enjoys record quarter of consolidated metals production ]]> http://www.proactiveinvestors.com/companies/news/180927/great-panther-enjoys-record-quarter-of-consolidated-metals-production-180927.html Great Panther Silver Ltd’s (TSE:GPR, NYSEMKT:GPL) stock was higher after the metals producer hailed record levels of production in the second quarter.

Consolidated metal production rose 6% year-on-year to a record 1.10mln silver equivalent ounces.

Silver produced also rose 6%, to 569,229 ounces from 536,726 the year before, but gold production eased 8% to 5,543 ounces from 6,010.

Lead production rose 40% to 405 tonnes from 290 tonnes the previous year while zinc production was 47% higher at 638 tonnes compared to the previous year’s 433 tonnes.

Ore processed eased a little to 98,576 tonnes milled from 99,905 tonnes the previous year.

At the Guanajuato mine complex, metal production at the GMC was 8% lower at 715,423 silver ounces equivalent (Ag eq oz)  when compared to the same quarter in the previous year.

The decrease was attributed to lower tonnes milled from San Ignacio, combined with lower overall grades, mainly reflecting variability in the mineral resource.

 Additional exploration drilling and development is being undertaken to improve the resource definition in these areas, the company revealed.

At the Topia mine, milling operations returned to design capacity in the second quarter, following the commissioning of the new tailings handling facility and the upgraded processing plant.

The operation is now producing exclusively dry tailings through the new filtration plant. All tailings are being deposited on the Phase I Tailings Storage Facility while the company continues its efforts to obtain the Phase II permit from SEMARNAT (the Mexican environmental permitting agency).

The mine achieved a record level of metal production of 386, 867 Ag eq oz, up 47% year-on-year.

This was attributed to a combination of higher tonnes milled, higher grades of feed material and improved recoveries.

The increase in tonnes milled reflects maximization of the plant capacity by processing a controlled blend of run-of-mine production and ore stockpiled during the scheduled plant shut-down.

The improved metallurgical recoveries were attributed to improved control over the mill feed and head grade, coupled with the recent plant upgrades, while the increase in grades was due to a greater focus on selective mining, dilution control and ore sorting.

Great Panther stuck with its previous production guidance for 2017, as it believes it will be able to obtain a permit for the Phase II tailings facility at Topia without interruption of operations; however, it did advise the deposition of dry tailings on the Phase I tailing storage facility cannot continue forever so the company cannot provide complete assurance that a disruption can be avoided.

Discussions to date with the authorities and other stakeholders have been positive and are continuing.

"Great Panther had an excellent second quarter, setting a new company record for consolidated metal production and a new record for metal production in Topia," stated Robert Archer, president & chief executive officer of Great Panther.

The market agreed, pushing the price up 2.9% to US$1.24 on Friday morning.

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Fri, 14 Jul 2017 12:22:00 -0400 http://www.proactiveinvestors.com/companies/news/180927/great-panther-enjoys-record-quarter-of-consolidated-metals-production-180927.html
<![CDATA[News - Great Panther Silver set to build a foundation in Peru as it closes Coricancha acquisition ]]> http://www.proactiveinvestors.com/companies/news/180233/great-panther-silver-set-to-build-a-foundation-in-peru-as-it-closes-coricancha-acquisition-180233.html Great Panther Silver Ltd (TSE:GPR, NYSEMKT:GPL) has realised its quest to build a foundation in Peru - as it has now closed its acquisition of the Coricancha gold-silver-lead-zinc-copper underground mine and mill complex (CMC).

As previously reported, the CMC lies in the central Andes of Peru, around 90 km east of the city of Lima.

A resource update is under way and is expected to be completed in the third quarter of 2017.

READ OUR BIG PIC - Bob Archer steps aside to allow new blood to take Great Panther Silver to the next level READ - Great Panther Silver encouraged by further mineralisation found at San Ignacio

Great Panther's Peruvian subsidiary acquired all of the shares of Nyrstar Coricancha S.A. from subsidiaries of Nyrstar. 

Under the terms of the final share purchase agreement, Great Panther will pay Nyrstar US$0.1mln, shortly following closing, and an earn-out consideration of up to US$10mln.

Under the earn-out, Nyrstar will be paid 15% of the free cash-flow generated by the CMC during the five years after which the CMC is cumulative free cash-flow positive.

"The acquisition of Coricancha represents a major milestone for Great Panther Silver, and the culmination of our search for the right asset to build a foundation in Peru," said Robert Archer, Great Panther's president and chief executive.

"The project has excellent potential to be a new mine for the company, and we are immediately ramping up our evaluation toward that goal."

Coricancha is a fully permitted polymetallic mine that includes an operational 600 tonne per day flotation and gold bio-leach plant along with supporting mining infrastructure. 

It comprises more than 3,700 hectares in the prolific Central Polymetallic Belt and production at the mine dates back to 1906.

Depending upon the outcome of the prefeasibility study ( PFS), a restart of operations could begin in 2018.

Significantly, Nyrstar has agreed to be responsible for the cost of reclamation work, and any associated fines, that Coricancha will undertake at the CMC, related to certain legacy tailings facilities, subject to agreed maximum amounts. 

In addition, Nyrstar will maintain the existing CMC mine closure bond for three years.

Shares added 1.22% to $1.66.

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Mon, 03 Jul 2017 09:31:00 -0400 http://www.proactiveinvestors.com/companies/news/180233/great-panther-silver-set-to-build-a-foundation-in-peru-as-it-closes-coricancha-acquisition-180233.html
<![CDATA[News - Great Panther Silver encouraged by further mineralisation found at San Ignacio ]]> http://www.proactiveinvestors.com/companies/news/179482/great-panther-silver-encouraged-by-further-mineralisation-found-at-san-ignacio-179482.html Great Panther Silver (TSE:GPR, NYSEMKT:GPL)  posted encouraging drill results, which show that strong  gold and silver mineralization continues along strike from the current mine workings at the San Ignacio mine.

The surface drilling program at the Guanajuato mine complex began in October last year and consisted of 32 holes for 7,464 metres.

READ - Great Panther Silver expects to close Coricancha mine deal in June READ - Bob Archer steps aside to allow new blood to take Great Panther Silver to the next level

The drilling, which is continuing, initially targeted the southeasterly strike extension of the Melladito vein, in particular, where it is hit by the Plateros vein trend.

The result of this intersection is a thickening of the veins, highlighted by one hole, which returned a combined estimated true width of 19.24 metres averaging 6.36 grams per tonne (g/t) gold and 261 g/t silver.

Other highlights were 4.65 metres of 4.81 g/t gold and 275 g/t silver in the Melladito vein and 14.59 metres of 6.86 g/t gold and 257 g/t silver in the Plateros vein.

Drilling has now changed focus to the Purisima vein, approximately 650 metres to the west of the current mine workings.

"We are encouraged by the continuation of mineralization to the southeast of our mine workings, with the Plateros vein locally exhibiting very high grades, particularly in gold," said Robert Archer,  Great Panther's president and chief executive.

"The results of our exploration drilling have given us sufficient confidence to commence drifting in that direction to further evaluate and delineate these zones from underground."

Shares eased around 3% in Toronto to $1.55.

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Mon, 19 Jun 2017 11:11:00 -0400 http://www.proactiveinvestors.com/companies/news/179482/great-panther-silver-encouraged-by-further-mineralisation-found-at-san-ignacio-179482.html
<![CDATA[News - Great Panther Silver expects to close Coricancha mine deal in June ]]> http://www.proactiveinvestors.com/companies/news/179264/great-panther-silver-expects-to-close-coricancha-mine-deal-in-june-179264.html Great Panther Silver (TSE:GPR, NYSEMKT:GPL) has moved closer to finalising the acquisition, under a share purchase agreement, of the Coricancha gold-silver-lead-zinc-copper mine and mill complex (the CMC) from Nyrstar NV, expecting it to close in June.

The CMC lies in the central Andes of Peru, around 90 km east of the city of Lima.

A resource update is under way and is expected to be completed in the third quarter of 2017, the firm noted.

Recently, Great Panther and Nyrstar struck an amended share purchase agreement to reflect the reorganization of Nyrstar's investments in Peru to allow for the planned  divestitures.

"The transaction is still subject to several customary closing conditions which the company and Nyrstar are aiming to complete before the end of June, 2017, or shortly thereafter," said Great Panther on Wednesday.

"Certain of these conditions depend on responses from third parties or authorities and therefore timing is subject to some uncertainty."

Once the deal is complete, Great Panther plans include further evaluations of the current mine and processing infrastructure, around 7,800 metres of underground drilling, environmental studies, and starting a preliminary feasibility study (PFS).

Depending upon the outcome of the PFS, development in support of operations could start in 2018.

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Wed, 14 Jun 2017 13:35:00 -0400 http://www.proactiveinvestors.com/companies/news/179264/great-panther-silver-expects-to-close-coricancha-mine-deal-in-june-179264.html
<![CDATA[News - Great Panther Silver at full pelt after commissioning refurbished processing plant at Topia ]]> http://www.proactiveinvestors.com/companies/news/178730/great-panther-silver-at-full-pelt-after-commissioning-refurbished-processing-plant-at-topia-178730.html Mexico-focused producer Great Panther Silver Ltd (TSE:GPR, NYSEMKT:GPL) has successfully commissioned the refurbished processing plant at its Topia mine in Durango.

The plant is now operating at planned capacity, the firm said.

Meanwhile, it is working on resolving an issue concerning a new tailings storage facility.

The Mexican environmental authority (SEMARNAT) has refused the request for the change in use of soils permit required for the phase II tailings storage facility until a certain condition is met.

Great Panther says discussions to date with the authorities and other interests have been positive and continue.

For now, the firm continues to deposit dry tailings at the existing phase I tailings storage facility.

Permitting requirement issues expected to be resolved within the next few weeks

"We are pleased with the operation of the plant and progress to date on the permitting front," Robert Archer, Great Panther's president and chief executive told investors.

"We have had extensive discussions with all stakeholders regarding the permitting requirements, and we are optimistic this will be favorably resolved in the coming weeks.

"We still expect to be able to process all of the ore stockpiled during the shutdown through the balance of 2017. Furthermore, the higher ore grades of the stockpiled ore put us in good position to meet our 2017 production guidance."

Run-of-mine ore is now being processed, along with that stockpiled.

Notably, due to the improved grade control at the mines, the silver grade of ore milled in the year to date, through the commissioning phase, has increased by around 18% compared to 2016.

Further production details will be provided in the quarterly update in early July, said Great Panther.

 

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Thu, 01 Jun 2017 12:19:00 -0400 http://www.proactiveinvestors.com/companies/news/178730/great-panther-silver-at-full-pelt-after-commissioning-refurbished-processing-plant-at-topia-178730.html
<![CDATA[News - Great Panther reports significant increase in net income on improved metal prices, favourable exchange rates ]]> http://www.proactiveinvestors.com/companies/news/177309/great-panther-reports-significant-increase-in-net-income-on-improved-metal-prices-favourable-exchange-rates-177309.html Great Panther Silver Ltd (TSE:GPR, NYSE:GPL) has reported a significant increase in first quarter net income as improved metal prices and favourable exchange rates offset the impact of lower production and sales volumes associated with a temporary suspension at its Topia milling operations in Durango, Mexico.

For the three months to March 31, the precious metals miner reported net income of US$3.0mln, compared to a net loss of $3.4mln in the same quarter of 2016, even though revenues declined to US$12.4mln from US$14.1mln a year earlier.

The results were boosted by a non-cash US$1.8mln foreign exchange gain, predominantly associated with Mexican peso forward contracts.

The group’s first quarter adjusted earnings per share was US$0.02.

READ: Great Panther Silver confident in hitting annual production guidance

Great Panther said its all-in sustaining cost per payable silver ounce (AISC) for the first quarter was US$19.55, higher than 2017 full-year guidance, as the company absorbed the impact of the capital expenditure and fixed overhead costs at Topia.

The group added that, with the Topia Project now largely completed, AISC is projected to decline over the balance of 2017, leading the company to expect to meet its 2017 guidance.

Net income growth “particularly notable”, says Great Panther boss

Robert Archer, Great Panther’s president and CEO said: "This is particularly notable given that we suspended processing at Topia to complete plant upgrades and prepare for the transition to a new tailings storage facility, and therefore only had nominal production from Topia during the quarter.

“The Topia upgrades were completed under budget and commissioning of the plant is expected to be complete by mid-May.”

He added: “Great Panther remains focused on capitalizing on growth opportunities and, as at the end of the first quarter of 2017, the Company had US$69.3mln in net working capital, including US$53.2mln in cash and short-term deposits, and no long-term debt."

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Thu, 04 May 2017 06:19:00 -0400 http://www.proactiveinvestors.com/companies/news/177309/great-panther-reports-significant-increase-in-net-income-on-improved-metal-prices-favourable-exchange-rates-177309.html
<![CDATA[News - Bob Archer steps aside to allow new blood to take Great Panther Silver to the next level ]]> http://www.proactiveinvestors.com/companies/news/177000/bob-archer-steps-aside-to-allow-new-blood-to-take-great-panther-silver-to-the-next-level-177000.html So, farewell Bob Archer. But not goodbye.

Bob Archer, one of the founding directors of Great Panther Silver Limited (TSE:GPR), announced recently that he will be stepping down from his long-held position as chief executive officer.

Archer will take up a new role as non-executive director as soon as a new chief executive has been appointed.

More than 35 years' experience..

Archer has more than 35 years’ experience working for mining companies in North America, so there’s no doubt he’s served his time. But neither is he quite of retirement age yet, although a serious commitment to viticulture will undoubtedly keep him busy when full-blown retirement does come.

So what then, lies behind this decision to step down?

First, it’s worth noting that aside from institutions, Archer is the single largest shareholder in the company. If anyone has its interests at heart, he does. He is bound up with the history, the ownership and the future, so he is neither jumping nor being pushed. This is a decision that was taken internally, after long hard thought.

It should be seen in the context of the wider mining markets, which continue to move through their standard cyclical patterns. The next upswing is underway, but it’s not clear how long it will take to reach full flight. By the time it does, Archer may indeed be ready for full-blown retirement, just at the wrong, critical moment.

The time is right, now, for some serious succession planning, rather than when the markets are in full flight.

Organic growth likely to be incremental...

Because it’s also clear the evolution of Great Panther has reached a point where organic growth is likely to be incremental rather than dramatic.

Its operating silver, gold and base metals mines in Mexico have a decent track record of production, one indeed at Guanajuato that dates back many, many decades.

“But,” says Archer, “at Guanajuato we’ll never be able to build up a large reserve base.”

So, as far as major growth is concerned, acquisition and corporate activity are likely to be key.

Archer has already struck one deal in Peru with the acquisition of the Coricancha mine complex from Nyrstar. He’s likely at least to stay on to see this project into production.

WATCH - Great Panther Silver's Archer very excited about Peru mine opportunity

But as far as the next deals are concerned, those will be left to new Vice President Corporate Development Samuel Mah and to whomever comes in as the new chief executive.

A new growth phase...

“We are entering a new growth phase,” says Archer.

“Our operations are more or less at capacity. Further expansions will require acquisitions. We would like to bring on another mine – at least one more. But we’ll bring someone new onto the board and let them take this new phase forward.”

Still, Archer is not to be rushed in this process.

“What we’re not looking for is someone who’ll come in and make wholesale changes. People enjoy working within the corporate culture that we have. What we do want is someone who knows Latin America.”

Until the right man or woman is identified, Archer will remain at the helm. But the medium-term plans are now very clear.

“It’s time to pass the baton on to someone else,” he says. “Rather than wait a few years.”

Watch this space.

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Thu, 27 Apr 2017 17:25:00 -0400 http://www.proactiveinvestors.com/companies/news/177000/bob-archer-steps-aside-to-allow-new-blood-to-take-great-panther-silver-to-the-next-level-177000.html
<![CDATA[News - Great Panther Silver bolsters board with new independent director ]]> http://www.proactiveinvestors.com/companies/news/176457/great-panther-silver-bolsters-board-with-new-independent-director-176457.html Financial expert Elise Rees has been appointed as an independent director to metals miner Great Panther Silver Ltd (TSE:GPR, NYSE:GPL), it said today.

"Having recently retired after a 35-year career in professional accountancy, she brings us significant experience in acquisitions, mergers and corporate restructuring across a wide range of industries, including mining, energy, infrastructure, construction, real estate, retail and distribution," said Bob Garnett, chair of the board.

READ - Great Panther Silver confident in hitting annual production guidance WATCH - Great Panther Silver's Archer very excited about Peru mine opportunity

"Further, she is qualified as a financial expert under SEC, NYSE/Nasdaq and TSX listing rules."

Ms Rees, who was named as one of the top 100 most powerful women in Canada in 2015 by 'Women's Executive Network', has served on the boards of a number of profit and not-for profit organizations.

She currently sits on the boards of Enmax Corp, EasyPark and Westland Insurance, as well as the Greater Vancouver board of trade, the miner revealed.

This week, Mexico-focused  Great Panther revealed it remains on track to hit full-year production guidance despite closing down its Topia mine for the past three months.

Milling operations at the mine – which is in Durango, Mexico – have been suspended since December to allow Great Panther to undertake planned works to upgrade the plant and transition to a new tailings storage facility (TSF).

Most of that work has now been completed under budget, and the old TSF is temporarily being used while Great Panther gets the green light from Mexican authorities to use the new one.

Even while the mill was shut down though, the company continued to mine and it expects to process all of the stockpiled ore by the end of the year, hence the maintained full-year production guidance.

The company also repeated its all-in sustaining costs (AISC) forecast for the year of US$5-US$6 per payable silver ounce and US$14-US$16 per payable silver ounce respectively.

It also told investors that the previously announced acquisition of the Coricancha mine in Peru is likely to close in the current quarter.

Also this month, the firm said Robert Archer, chief executive and president of Great Panther was to step down this year as the firm moves into its next phase of growth.

He will stay in the role and continue to work with the board to find his successor.

Shares in Toronto shed 4.29% to $2.01.

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Thu, 13 Apr 2017 10:00:00 -0400 http://www.proactiveinvestors.com/companies/news/176457/great-panther-silver-bolsters-board-with-new-independent-director-176457.html
<![CDATA[News - Great Panther Silver confident in hitting annual production guidance ]]> http://www.proactiveinvestors.com/companies/news/176311/great-panther-silver-confident-in-hitting-annual-production-guidance-176311.html Precious metals miner Great Panther Silver Ltd (TSE:GPR, NYSE:GPL) has said it remains on track to hit full-year production guidance despite closing down its Topia mine for the past three months.

Milling operations at the mine – which is in Durango, Mexico – have been suspended since December to allow Great Panther to undertake planned works to upgrade the plant and transition to a new tailings storage facility (TSF).

Most of that work has now been completed under budget, and the old TSF is temporarily being used while Great Panther gets the green light from Mexican authorities to use the new one.

Full-year guidance on track

Even while the mill was shut down though, the company continued to mine and it expects to process all of the stockpiled ore by the end of the year, hence the maintained full-year production guidance.

“The planned suspension of milling operations at Topia was in effect throughout the entire first quarter and had an obvious impact on our overall metal production," said president and chief executive Robert Archer.

“However, we continued mining at Topia throughout this period, and with the commissioning of the graded plant and the new tailings handling facility now underway, we have commenced the processing of ore stockpiled during the shutdown.

“This will continue through the balance of the year, such that we anticipate meeting our annual guidance.”

First quarter production figures

As a result of the plant shutdown, metal production in the three months to end March fell to 727,372 silver equivalent ounces (Ag eq oz) (from 1.01mln Ag eq oz in Q1 2016).

Silver production fell 32% to 364,995oz while gold production also fell, albeit by not quite so much, to 5,177oz.

All of the production came from Great Panther’s Guanajuato mine complex which is also in Mexico and includes the San Ignacio mine.

As well as maintaining full-year production guidelines, the company also repeated its all-in sustaining costs (AISC) forecast for the year of US$5-US$6 per payable silver ounce and US$14-US$16 per payable silver ounce respectively.

Coricancha acquisition

Great Panther also told investors that the previously announced acquisition of the Coricancha mine in Peru is likely to close in the current quarter.

The miner had hoped to have the deal tied up by the end of March but local regulatory and legal processes have delayed things slightly.

Once the acquisition is complete will start work on a pre-feasibility study. Depending on the outcome of the report, development in support of operations could start in 2018, Great Panther said.

Further purchases were hinted at as well, with the firm stating it would “continue to seek and evaluate additional acquisition opportunities to meet the company’s growth objectives.”

Shares in Great Panther gained 0.5% to trade at C$2.14.

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Tue, 11 Apr 2017 10:26:00 -0400 http://www.proactiveinvestors.com/companies/news/176311/great-panther-silver-confident-in-hitting-annual-production-guidance-176311.html
<![CDATA[News - Great Panther Silver's chief to step down as miner moves into next phase of growth ]]> http://www.proactiveinvestors.com/companies/news/176038/great-panther-silver-s-chief-to-step-down-as-miner-moves-into-next-phase-of-growth-176038.html Robert Archer, chief executive and president of Mexico-focused miner Great Panther Silver Ltd (TSE:GPR, NYSEMKT:GPL) is to step down this year as the firm moves into its next phase of growth.

He will stay in the role and continue to work with the board to find his successor.

A globally recognized recruitment firm has been hired to conduct a search for someone, who will maximize the company's growth opportunities over the next five to seven years, Great Panther said.

Archer co-founded the miner in 2004 and has led its successful growth into a respected primary silver producer.

In a statement, the group said: "He has positioned the company with a strong balance sheet, a strong base of operations in Mexico and significant growth opportunity in Peru.

In this regard, the company is well placed to capitalize on growth opportunities with its existing assets and through acquisitions."

In addition, Great Panther has appointed industry veteran Samuel Mah  to a new position of vice-president, corporate development.

Mah was most recently employed at Silver Wheaton Corp as senior director, project evaluations, where he was responsible for the technical appraisal and due diligence review for its streaming deals.

Mah has also held engineering roles with AMEC Americas (metals and mining), SRK Consulting (Canada) Inc, Goldcorp Inc and Placer Dome Inc (now Barrick Gold Corp.).

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Wed, 05 Apr 2017 15:26:00 -0400 http://www.proactiveinvestors.com/companies/news/176038/great-panther-silver-s-chief-to-step-down-as-miner-moves-into-next-phase-of-growth-176038.html
<![CDATA[Media files - Great Panther Silver's Archer very excited about Peru mine opportunity ]]> http://www.proactiveinvestors.com/companies/stocktube/7120/great-panther-silver-s-archer-very-excited-about-peru-mine-opportunity-7120.html Fri, 17 Mar 2017 09:39:00 -0400 http://www.proactiveinvestors.com/companies/stocktube/7120/great-panther-silver-s-archer-very-excited-about-peru-mine-opportunity-7120.html <![CDATA[News - Great Panther Silver added to S&P/TSX Global Mining ]]> http://www.proactiveinvestors.com/companies/news/174716/great-panther-silver-added-to-sptsx-global-mining-174716.html Great Panther Silver (TSE:GPR, NYSEMKT:GPL) is affected by changes which S&P Dow Jones Indices Canadian Index Services will make in the S&P/TSX Canadian indices effective at the open on Monday, March 20 with the company added to the ticker’s Global Mining Index on the Toronto Stock Exchange.

Changes to the S&P/TSX Composite Index will also affect the S&P/TSX Completion, Capped Composite and Equal Weight Composite indices.

Stocks added to or removed from the S&P/TSX Composite Index will also be added to or removed from the appropriate global industry classification standard (GICS) sector index.

Great Panther Silver shares ended up 5.6% at $1.88 on Wall Street on Monday. In Toronto they were up 5% at C$2.54.

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Mon, 13 Mar 2017 16:45:00 -0400 http://www.proactiveinvestors.com/companies/news/174716/great-panther-silver-added-to-sptsx-global-mining-174716.html
<![CDATA[News - Margins and cash flow improve with metal price upswing, says Great Panther ]]> http://www.proactiveinvestors.com/companies/news/174124/margins-and-cash-flow-improve-with-metal-price-upswing-says-great-panther-174124.html Mexico-focused silver miner Great Panther (TSE:GPR, NYSEMKT:GPL) saw higher revenues in 2016 thanks to a 14% increase in realised sale prices for silver and gold.

The improved  metal prices and significantly lower costs also drove substantial improvements in margins and cash flow in 2016, the miner said, including a $17.6 million increase in mine operating earnings.

President and chief executive Robert Archer told investors: "Improved metal prices, combined with a 20% reduction in our all-in sustaining costs to $10.99, resulted in Great Panther delivering a 404% increase in mine operating earnings in 2016.

"Significantly improved operating cash flow, combined with the proceeds of financings completed in 2016, enabled us to end the year with $67 million in net working capital, no debt, and positions us well to capitalize on growth opportunities such as the recently signed Coricancha acquisition."

For the year AISC (All in sustaining costs) decreased 20% to $10.99 per payable silver ounce, which was also below guidance, while adjusted underlying earnings (EBITDA) improved to $16.5 million from $7.1 million the year before.

Mine operating earnings before non-cash items increased to $27.7 million, a 51% higher than $18.4 million in 2015, but despite that the firm reported a net loss of $4.1 million for 2016, mainly due to foreign exchange losses of $11.1 million recognized in the first half of the year prior to the group’s conversion to US dollar reporting.   

Silver production decreased 14% to 2,047,260 ounces over the year, while gold production increased 2% to 22,238 ounces , which was an annual record.

Great Panther Silver Ltd has two wholly-owned operating mines in Mexico -  the Guanajuato Mine Complex, which includes the San Ignacio Mine,  - and the Topia Mine in Durango.

It has also recently signed an agreement to acquire a 100% interest in the Coricancha Mine Complex in Peru, which is expected to be finalized in the second quarter.   

The company believes that the Coricancha Mine Complex has the potential for approximately three million silver equivalent ounces of production annually, which would boost its consolidated metal production by about 75%. 

The construction of the Phase II tailings storage facility and related plant upgrades at the Topia Mine are progressing well, and Great Panther expects, as planned, to restart processing before the end of the first quarter.

The costs of the project will be accounted for as sustaining capital expenditures. This, along with the impact of suspended production for a good portion of the quarter, will result in adverse cash cost and AISC metrics for the first quarter, it added.

Great Panther successfully closed the year with $56.6 million in cash and short-term investments, $66.6 million in net working capital and no long-term debt.

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Thu, 02 Mar 2017 06:36:00 -0500 http://www.proactiveinvestors.com/companies/news/174124/margins-and-cash-flow-improve-with-metal-price-upswing-says-great-panther-174124.html
<![CDATA[News - Great Panther releases new Guanajuato resource estimate ]]> http://www.proactiveinvestors.com/companies/news/173483/great-panther-releases-new-guanajuato-resource-estimate-173483.html Great Panther Silver Ltd (TSE:GPR, NYSEMKT:GPL) on Tuesday updated its mineral resource estimate for the Guanajuato mine complex (GMC) in Guanajuato, Mexico.

For the purpose of resource estimation, the GMC includes the operating Guanajuato and San Ignacio Mines and the El Horcon Project, which has the potential to be a satellite operation but is not currently in production.

"Once again, we successfully replaced what we mined at the GMC, and upgraded much of the resource to higher categories", stated Robert Archer, President & CEO.

"Notably, due to permitting delays, the fourth quarter 2016 step-out drilling at San Ignacio started after the effective cut-off date for this Resource Estimate, and the results of that program, which would have added to the Inferred resource, were not included. For 2017, we have more than doubled our drilling budget at the GMC, to 34,500 metres, and will continue our efforts to expand and further define the resource base at the Guanajuato and San Ignacio Mines, and the outlying El Horcon Project."

Estimated Measured Mineral Resources at the GMC increased 22% to 5,564,396 Ag eq oz from the previous Measured Mineral Resource, as San Ignacio Mine Indicated Mineral Resources were developed and categorized as Measured, and a slight increase in the Guanajuato Mine Measured Resource.

Estimated Indicated Mineral Resources at the GMC decreased 12% from the previous Indicated Mineral Resource to 1,581,680 Ag eq oz, due to an upgrade of San Ignacio Mine Indicated Mineral Resources to Measured Mineral Resources, and a slight decrease at the Guanajuato Mine.

The GMC, excluding the El Horcon Project, contains estimated Inferred Mineral Resources of 6,990,004 Ag eq oz, a 38% decrease from the previous Resource, primarily due to the upgrade of the San Ignacio Mine Inferred Resource to an M&I Mineral Resource, and the delay in starting the San Ignacio surface drilling such that the results were not considered for this resource estimate.

Including the El Horcon Project, the GMC contains estimated Inferred Mineral Resources of 9,082,917 Ag eq oz, a 26% decrease from the previous Resource. The El Horcon Project Inferred Mineral Resource increased due to higher metal price assumptions only, as no field work was completed in 2016.

During 2016, exploration at the San Ignacio Mine consisted primarily of underground drilling to better define the Mineral Resource in the Intermediate and Melladito zones. A surface drill program to expand the Mineral Resource started after the effective date of this Mineral Resource and, therefore, has not been included. Development in the period between Mineral Resource effective dates of July 31, 2015 and August 31, 2016, was conducted along the Melladito, Melladito FW, Melladito Splay, Intermediate, and Intermediate 2 zones.

At San Ignacio, plans for 2017 include 8,000 metres of surface exploration drilling along the continuation southeast from the present Mineral Resource to the historic mining areas of San Pedro and Mexiamora and on the sub-parallel Plateros trend. An additional 13,025 metres of underground drilling will focus on converting Inferred Mineral Resources to the Measured and Indicated categories.

At the Guanajuato Mine, underground exploration in 2016 was focused on the Los Pozos, Valenciana, and Guanajuatito areas to increase the Mineral Resource. The focus of exploration in 2017 will be on those three zones and the Promontorio zone. A comprehensive evaluation of historical workings is also being undertaken with emphasis on undeveloped veins with mineralization of economic significance. This will include the Rayas, upper Cata, Los Pozos, Valenciana and Guanajuatito zones.

Along with the Mineral Resource Estimates, the Company also considered Geological Potential at the Guanajuato Mine, which was estimated within ranges for areas that contain pillars and remnant material in historical mining areas with limited topographic control. Geological Potential includes 186,908 - 311,514 tonnes grading between 96 - 137g/t silver and 1.56 - 2.22g/t gold. These areas have often been drilled and evaluated underground by detailed sampling and geological mapping and include the Promontorio area, and parts of Los Pozos and Valenciana areas. Between July 31, 2015 and August 31, 2016, it is estimated that approximately 35% of Guanajuato Mine production came from Geological Potential and other areas outside the Mineral Resource.

The El Horcon Project is located approximately 100 kilometres by paved highway northwest of Guanajuato and is considered to be within trucking distance of the processing Cata Plant. Consequently, it is included in the GMC Mineral Resource Estimate. No work was completed on this project in 2016 but a drill program is budgeted for Q4 2017 to test the continuity of mineralization.

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Tue, 21 Feb 2017 14:49:00 -0500 http://www.proactiveinvestors.com/companies/news/173483/great-panther-releases-new-guanajuato-resource-estimate-173483.html
<![CDATA[News - Great Panther Silver produces 3.88mln oz Silver eq in 2016, expects up to 4.1mln in 2017 ]]> http://www.proactiveinvestors.com/companies/news/171490/great-panther-silver-produces-388mln-oz-silver-eq-in-2016-expects-up-to-41mln-in-2017-171490.html Great Panther Silver Ltd (TSE:GPR, NYSEMKT:GPL) said on Wednesday it is set for like-for-like Mexican output equivalent to up to 4.1mln ounces of silver in 2017 from 3.88mln realised in 2016.

The company released its fourth quarter and annual 2016 production results from its two wholly owned Mexican silver mining operations: the Guanajuato mine complex, which includes the San Ignacio mine, and the Topia mine in Durango.

For 2017, the company expects a production level of 4.0 to 4.1mln Ag eq oz (at a 70:1 ratio) from its Mexico operations.

An updated NI 43-101 resource estimate for the Guanajuato Mine Complex will be released later this month, however, due to necessary cut-off dates, recent high-grade drill results will not be included in this estimate. Commissioning of the new tailings storage facility at Topia and resumption of milling is expected in the first quarter, with the gradual processing of ore stockpiled during the shutdown to be conducted through the balance of the year.

Completion of the recently announced acquisition of the Coricancha Mine in Peru is anticipated to take place before the end of the first quarter. Initial activities will include evaluations of current mine and processing infrastructure, underground drilling, and initiation of a Preliminary Economic Assessment.

The Peruvian acqsition could add 75% to output.

Read: Acquisition of Coricancha will boost Great Panther's silver production by 75%

Depending on the outcome of the latter, development in support of operations is expected to commence in early- to mid-2018. A resource update is also scheduled for the second quarter of 2017.

 

2016 Production Highlights (compared to Full Year 2015) Consolidated metal production decreased 7% to 3,884,960 silver equivalent ounces ("Ag eq oz") Silver production decreased 14% to 2,047,260 silver ounces ("Ag oz") Gold production increased 2% to 22,238 gold ounces ("Au oz"), an annual record Ore processed was steady at 376,739 tonnes   Fourth Quarter 2016 Production Highlights (Compared to Fourth Quarter 2015)

 

Consolidated metal production decreased 12% to 883,772 Ag eq oz Silver production decreased 17% to 460,571 Ag oz Gold production decreased 8% to 5,206 Au oz Ore processed decreased 2%, with 92,869 tonnes milled

 

"Metal production was down for the fourth quarter and 2016 due to lower grades at San Ignacio and to shutdowns at Topia, with the most recent to accommodate tailings expansion and plant improvements," stated Robert Archer, President & CEO.

"The increased output from San Ignacio did result in a second consecutive annual record for gold production, and recent preliminary drill results from San Ignacio indicate that grades are likely to improve as we continue to the southeast. In addition, with the upgrades at Topia and the recently signed agreement to purchase the Coricancha Mine in Peru, we expect 2017 to be a very exciting time for Great Panther Silver as we position ourselves for production growth in future years."

 

Guanajuato Mine Complex

Total metal production for the GMC during the fourth quarter of 2016 decreased by 7%, to 702,351 Ag eq oz, compared to Q4 2015, and decreased by 3% to 2,987,074 Ag eq oz for 2016, compared to the prior year. The decreases in both periods were primarily attributed to lower silver grades at San Ignacio. Ore processed in 2016 increased by 4%, which partly offset the lower silver grades. San Ignacio accounted for 58% of the total ore processed at the GMC in 2016, compared to 48% in 2015.

Underground drilling to improve the resource definition at San Ignacio continued through the fourth quarter of 2016, and is scheduled to extend into 2017. In addition, recent surface drilling at San Ignacio was successful in extending the strike extent of silver-gold mineralization for several hundred metres to the southeast of current workings. Seventeen holes, for a total of 3,766 metres, were drilled in the fourth quarter and many holes intersected silver-gold mineralization with higher grades than currently being mined. These results are being compiled and will be released in due course. Surface drilling has resumed to follow up on these encouraging results.

 

Topia Mine

Total metal production in the fourth quarter of 2016 at Topia was 181,421 Ag eq oz, a decrease of 28% compared to the fourth quarter of 2015. When compared to the previous full year, total metal production in 2016 decreased by 17% to 897,886 Ag eq oz. The decrease was mainly attributed to the lower tonnes milled, reflecting the two temporary plant shutdowns during Q3 2016 and a planned three-month processing suspension commencing in December 2016 to facilitate mill upgrades and the transition to a new tailings storage facility.

Mining has continued through the plant shut down and ore is being stockpiled at the site. This material will be processed once the plant starts up again such that production at Topia for 2017 should comprise 13 months of mined ore. Updates on the plant status will be provided as work progresses, with the expected restart in the first quarter of 2017.

For the reported periods of 2016, the Company delivered reductions in cash cost and All-In Sustaining Costs ("AISC") of 60% and 31% respectively. For 2017, the Company expects cash cost to increase due to increases in site costs and increased expenditures on definition drilling aimed at reducing grade variability and improving mine planning. AISC is also expected to increase due to the increase in cash cost and greater investment in drilling, development and capital projects. In particular, AISC will reflect the non-recurring capital expenditures in the new tailings facility at Topia which will primarily be incurred in the first quarter of 2017. Based on current plans and projections, the Company's cash cost and AISC guidance for 2017 is US$5.00 - 6.00 and US$14.00 - 16.00, respectively.

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Wed, 11 Jan 2017 14:24:00 -0500 http://www.proactiveinvestors.com/companies/news/171490/great-panther-silver-produces-388mln-oz-silver-eq-in-2016-expects-up-to-41mln-in-2017-171490.html
<![CDATA[News - Acquisition of Coricancha will boost Great Panther's silver production by 75% ]]> http://www.proactiveinvestors.com/companies/news/171207/acquisition-of-coricancha-will-boost-great-panther-s-silver-production-by-75-171207.html Dilution? No, sir.

The latest deal from Great Panther Silver Ltd (TSE:GPR) may have transformed the company’s production profile at a stroke, but it comes at zero additional dilution to shareholders and at a pretty modest initial cash outlay too.

Great Panther will pay a mere US$100,000 on closing the acquisition of the Coricancha polymetallic mine from Nyrstar (EBR:NYR), with up to US$10 mln coming only after the project has been successfully put back into production, and even then incrementally in the form of 15% of free cash flow over a five year period.

The real cost involved will be incurred by Great Panther internally in getting the mine up and running again. The bill for this is currently estimated to run to around US$25 mln, although a more precise figure will be forthcoming once a Preliminary Economic Assessment is completed.

That’s not likely to take long, according to Great Panther chief executive Bob, and at that point he’ll be able to talk more about the likely costs, margins and profits that will be involved.

“It’s going to take us a little while once we’re in possession to do a dedicated evaluation of what it’s going to take to bring it back into production,” says Archer.

“Until we get a PEA in place we can’t publicly talk about economics. We’ll be updating the resource probably in the second quarter. What’s there now has to be considered as historical, but the grades are certainly very good. You need that because it’s a narrow-vein deposit. Overall it has the potential to deliver three million ounces of silver equivalent production annually.”

Great Panther is already well-established as a silver and gold producer from a suite of assets across Mexico, but this move into Peru looks set to boost production by 75%.

Hardly surprising then that Archer is upbeat in the wake of the deal. With this one under its belt, there could be more to come from the company.

“We’re pretty excited,” he says. “We’d like to see this as a foundation for continuing to build in Peru. It’s not a one-off. We’re still looking for something else. And we’re also still looking in Mexico.”

The deal for Coricancha took two years to put together, but Archer is hopeful that now that Great Panther has a foothold in Peru, the next deals will come together more easily.

“A lot of the mid-sized deposits in Peru are owned by private families. It’ll be a lot easier for us to get to know them once we’re established in the country.”

That’s a process that’s now getting underway as new recruits are being signed up, the existing care and maintenance team is being added to, and thoughts are now turning to the wider deployment of the US$25 mln that will be required for the restart.

Finding this cash won’t be problematic – it’s sitting there on Great Panther’s balance sheet, and has been since the last spike in the silver price in the summer, when the company raised US$30 mln.

But even back then it was already sitting on top of a substantial cash cushion, such that when the Coricancha deal was announced just before Christmas, the company also revealed that it had US$54 mln in the bank.

That should be ample to fund the redevelopment work at Coricancha, even if the numbers do shift a bit, while the left-over cash will surely provide the cornerstone for Great Panther’s next deal.

When and how that happens remains to be seen, but this is a company that’s changing all the time - shares in Great Panther sat at C$0.71 per share at the beginning of January last year. They opened 2017 at C$2.22, a threefold rise in just 12 months. That rise is a reflection of a metals and mining market that’s come alive during that time, to be sure.

But it’s also a reflection of a company that’s been active, that’s done deals, raised cash, and continued to invest in production. 

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Thu, 05 Jan 2017 12:13:00 -0500 http://www.proactiveinvestors.com/companies/news/171207/acquisition-of-coricancha-will-boost-great-panther-s-silver-production-by-75-171207.html
<![CDATA[News - Great Panther to acquire Coricancha mine, mill complex ]]> http://www.proactiveinvestors.com/companies/news/170752/great-panther-to-acquire-coricancha-mine-mill-complex-170752.html Great Panther Silver Ltd (NYSEMKT:GPL, TSE:GPR) has entered into an agreement with subsidiaries of Nyrstar NV to acquire the Coricancha gold-silver-lead-zinc-copper mine and mill complex (CMC), the company said on Tuesday.

The CMC is located in the central Andes of Peru, approximately 90 kilometres by paved highway east of the city of Lima.

The acquisition will be structured as a share purchase, whereby the company's wholly owned Peruvian subsidiary (GP Peru) will acquire all of the shares of Nyrstar Coricancha SA (Coricancha) from subsidiaries of Nyrstar. Coricancha is the owner of a 100-per-cent interest in the CMC. Closing is subject to customary closing conditions and is expected to take place in the first quarter of 2017.

"We are very excited about the prospects for the Coricancha mine," stated Robert Archer, president and chief executive officer.

"We have built Great Panther by acquiring past-producing mines in Mexico and successfully bringing them back into production. We now hope to replicate this success in Peru, starting with the CMC. The work we completed in 2015 and 2016 during the option term demonstrated substantial upside, and we believe that we have the expertise and discipline to capitalize on that. The project has the potential for annual production of approximately three million silver equivalent ounces, which would be a significant contribution to our growth. Importantly, with more than $54mln in cash, the company is fully financed to bring the mine back into production."

The CMC is a fully permitted polymetallic mine that includes an operational 600-tonne-per-day flotation and gold Biox bioleach plant along with supporting mining infrastructure. The CMC has been on care and maintenance since August, 2013, when it was closed due to falling commodity prices. The CMC property comprises more than 3,700 hectares in the prolific central polymetallic belt, and production at the mine dates back to 1906. Gold-silver-lead-zinc-copper mineralization (approximately 80% gold-silver by value) occurs as massive sulphide veins that have been mined underground by cut-and-fill methods.

The execution of the agreement follows on the option agreement entered into between Great Panther and Nyrstar in May, 2015. Great Panther undertook significant exploration and evaluation work on the CMC in 2015 and 2016 that led to continued negotiations with Nyrstar following the termination of the option agreement.

Under the terms of the purchase agreement, Great Panther will acquire Coricancha from Nyrstar for a purchase price comprising: (i) $100,000 to be paid on closing, (ii) an amount equal to cash on hand in Coricancha at completion and (iii) earn-out consideration of up to $10.0mln. Under the earn-out, Nyrstar will be paid 15% of the free cash flow generated by the CMC during the five-year period after which the CMC is cumulative free cash flow positive from closing.

Great Panther is continuing with its engineering and technical evaluation for the reactivation of the CMC, with the objective of further refining the costs and timing for start-up. At this time, it is expected that it will take approximately 12 to 18 months to bring the mine back into production, based on the engineering studies completed to date, and that the costs to reactivate the mine will be in the order of $25mln. However, these estimates are subject to further review and refinement of the start-up plans.

The company expects to announce further details closer to closing, and to commence the program to restart the mine shortly thereafter, including underground drilling, surface drilling (once permits are obtained), mine development, plant upgrades, and other start-up evaluations and undertakings. In addition, a continuing compilation of underground sampling data will be combined with the data obtained from the company's 2015-2016 drilling programs, during the option phase, to update the resource base.

Nyrstar has agreed to be responsible for certain reclamation work and outstanding fines related to legacy tailings facilities at the CMC that Coricancha will undertake following closing, subject to agreed maximum amounts. In addition, Nyrstar will maintain the existing CMC mine closure bond for three years.

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Tue, 20 Dec 2016 15:12:00 -0500 http://www.proactiveinvestors.com/companies/news/170752/great-panther-to-acquire-coricancha-mine-mill-complex-170752.html
<![CDATA[News - Great Panther Silver shares rise after reporting $2.13mln Q3 net income ]]> http://www.proactiveinvestors.com/companies/news/168500/great-panther-silver-shares-rise-after-reporting-213mln-q3-net-income-168500.html Great Panther Silver Ltd (NYSEMKT:GPL, TSE:GPR) shares rose more than 5% on Thursday after its overnight release of third quarter earnings which turned in net income of $2.13mln in the three months to September 30, reversing a loss of $2.565mln in the same period a year ago.

The company also announced that it commenced reporting its financial results in US dollars as of the third quarter of 2016 and all historical data has been restated in US dollars using the July 1 exchange rate.

During the third quarter of 2016, the company generated $7.2mln in mine operating earnings before non-cash items and $4.2mln in operating cash flows before changes in non-cash net working capital, which represent year-on-year increases of 64% and 254% respectively.

Strong operating results

These strong operating results were primarily attributable to a 22% increase in revenue, or $2.8mln, and a slight decrease in cost of sales. As well as reporting a net income of $2.1mln for the third quarter the adjusted EBITDA increased by 197% to $4.7mln.

Cash and cash equivalents increased by $39.2mln from the start of the year to $52.9mln at Sept. 30, and net working capital increased by $42.8mln to $68.2mln. The increases in cash and net working capital are largely a function of the $29.9mln bought-deal offering that was completed in July, significantly improved cash flows from operating activities and other financing activities.

The 22% revenue increase was primarily attributable to the increase in precious metal prices, as the average realised silver and gold prices for the quarter increased to $19.65 per ounce and $1,326 per ounce, from $13.98 per ounce and $1,069 per ounce respectively.

Positive impact of metal prices

The positive impact of metal prices contributed an estimated $4.1mln increase in revenue. In addition, smelting and refining charges, which are netted against revenue, were $200,000 lower than in the third quarter of 2015.

These positive factors were partly offset by a 7% decrease in metal sales volumes, which had an estimated effect of reducing revenue by $1.2mln, relative to the third quarter of 2015.

The lower metal sales volume was predominantly the result of the lower gold grades at the Guanajuato mine complex, as well as a decrease in production at the Topia mine, due to two temporary shutdowns of operations during the quarter. The company sold 864,605 AgEq ounces during the third quarter of 2016, compared with 931,198 during the same period in 2016, a reduction of 7%.

"Great Panther's third quarter mine operating earnings, operating cash flow and net income all showed significant increases over the third quarter of 2015, reflecting improved metal prices and favourable foreign exchange rates," said Robert Archer, president and chief executive officer.

"In addition, we have seen a significant increase in operating cash flow on a year-to-date basis that, along with the completion of a $29.9-million bought-deal financing in July, has contributed to a significant strengthening of our balance sheet. The company also continues to be debt free."

Great Panther shares were up 5.1% at $1.44 in New York on Thursday.

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Thu, 03 Nov 2016 14:14:00 -0400 http://www.proactiveinvestors.com/companies/news/168500/great-panther-silver-shares-rise-after-reporting-213mln-q3-net-income-168500.html
<![CDATA[News - Great Panther schedules Q3 results for Nov 2 after closing bell ]]> http://www.proactiveinvestors.com/companies/news/168163/great-panther-schedules-q3-results-for-nov-2-after-closing-bell-168163.html Great Panther Silver Ltd. (NYSEMKT:GPL, TSE:GPR) will release its third quarter 2016 financial results for Wednesday, November 2 after the market close.

A conference call and webcast will be held on November 3 at 1100 EDT.

Great Panther Silver is a primary silver mining and exploration company listed on the Toronto Stock Exchange and on the NYSE MKT. Great Panther's current activities are focused on the mining of precious metals from its two wholly-owned mining operations in Mexico: the Guanajuato Mine Complex, which includes the San Ignacio Mine, and the Topia Mine in Durango.

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Thu, 27 Oct 2016 12:18:00 -0400 http://www.proactiveinvestors.com/companies/news/168163/great-panther-schedules-q3-results-for-nov-2-after-closing-bell-168163.html
<![CDATA[News - Great Panther on target to meet 2016 output guidance ]]> http://www.proactiveinvestors.com/companies/news/167317/great-panther-on-target-to-meet-2016-output-guidance-167317.html Great Panther Silver Ltd. (NYSEMKT:GPL, TSE:GPR) said it is still on target to meet 2016 output guidance and lowered cash costs, despite silver and gold output slipping in the third quarter at its two wholly-owned Mexican silver mining operations.

The mines comprise of the Guanajuato mine complex, which includes the San Ignacio mine, as well as the Topia mine in Durango.

Consolidated metal production decreased 12% to 953,632 silver-equivalent ounces (AgEq) in the third quarter versus the same period a year ago.

Silver production decreased 13% to 510,491 silver ounces while gold production decreased 11% to 5,423 gold ounces.

However, ore processed increased 2%, with 95,282 tonnes milled.

"Despite the third quarter being challenged by lower grades, recoveries and two temporary shutdowns, we expect to meet our production guidance for 2016," stated Robert Archer, president and chief executive officer.

"Furthermore, we expect to continue the trend of significant reductions in our cash costs over prior-year levels."

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Wed, 12 Oct 2016 16:43:00 -0400 http://www.proactiveinvestors.com/companies/news/167317/great-panther-on-target-to-meet-2016-output-guidance-167317.html
<![CDATA[News - Great Panther may make more than just one acquisition, says chief ]]> http://www.proactiveinvestors.com/companies/news/165733/great-panther-may-make-more-than-just-one-acquisition-says-chief-165733.html News from Great Panther Silver Limited (TSE:GPR) is likely to come in two forms over the coming weeks or months.

The first will be the updates from the company’s two Mexican mines, Guanajuato and Topia, where things are running pretty much as normal.

“At Guanajuato,” says chief executive Bob Archer, “it’s steady as she goes. We’re going through an area of slightly lower grade, which will impact a little bit in the third quarter, but we’re progressing.”

And mining has now resumed at Topia after a brief hiatus that followed the death of the company’s mine manager, in an incident off-site and unrelated to Great Panther’s operations.

It seemed prudent to allow the new mine manager a little bedding in time, but that’s now done and the re-start almost a month in the past.

The target for this year is for production of between 4 mln and 4.2 mln ounces of silver equivalent across both projects, at an all-in sustaining cost of between US$12.00 and US$14.00 per ounce.

Sustaining costs are thus set to be higher than the first half as a new tailings dam is under construction at Topia, but with silver bobbing around at the US$20 mark for some months now, margins should be pretty comfortable.

So that’s the first form of news – operational progress, operating cashflow, and operating profits.

The second form is a lot more speculative.

But it’s no secret that Great Panther has been on the hunt for deals for some time now, and a huge fundraising undertaken over the summer was widely supported with this proposition very much to the fore.

“A big part of our focus is on the acquisitions front,” says Archer. “We’re still working on the Coricancha project in Peru although it’s difficult to say much because there are confidentiality agreements in place.”

Great Panther signed a two-year option on Coricancha back in May of 2015 but hasn’t said too much about it since. The project is a former producer, and was billed at the time as a near-term re-start opportunity, having only gone on care and maintenance in 2013.

And when the time came for the second US$1.5 mln option payment to be made over, in May of this year, the option was officially allowed to lapse. But even then, the company said that it was still evaluating the project.

And Archer’s mention of it again, some months on, shows that there’s still clearly something there for Great Panther if the right deal can be struck.

But that’s not the only iron in the fire for Archer.

Coricancha was already a known quantity when the company went out and raised just shy of US$30 mln in a bought deal in July.

“The financing in the summer was taking advantage of the run up in silver prices to give us a better balance sheet and to give us more flexibility when it comes to acquisitions,” says Archer. “It’s always better to take the money when it’s offered.”

Given that the company was already sitting on a sizeable cashpile before the financing was put together, Great Panther now has quite some warchest at its disposal.

But Archer’s clear that in the type of transaction he’s looking to undertake cash will be king. “Many of the things we’re looking at are not public and so we can’t really do share-for-share transactions,” he says, although at that point he also mentions that, although Nyrstar is public, it is divesting all its mining assets.

But after all, there could be more than one type of deal on the go with more than one type of company.

“We want to make sure that we have enough cash to make acquisitions,” continues Archer. “It’s conceivable that we could do one or two, or even three, if the price is right.”
 

 

 

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Mon, 12 Sep 2016 14:22:00 -0400 http://www.proactiveinvestors.com/companies/news/165733/great-panther-may-make-more-than-just-one-acquisition-says-chief-165733.html
<![CDATA[News - Great Panther shares higher, resumes mining at Topia, Mexico ]]> http://www.proactiveinvestors.com/companies/news/129308/great-panther-shares-higher-resumes-mining-at-topia-mexico-129308.html Great Panther Silver (NYSEMKT:GPL) shares were 2% higher on Friday after the company signalled it was resuming mining and processing operations with immediate effect at its Topia mine in Durango, Mexico.

The site had been temporarily shutdown since last week.

Great Panther shares were up 2.1% at $1.47 on Friday.

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Fri, 12 Aug 2016 14:54:00 -0400 http://www.proactiveinvestors.com/companies/news/129308/great-panther-shares-higher-resumes-mining-at-topia-mexico-129308.html
<![CDATA[News - Great Panther in strong position to return to profitability - Rodman ]]> http://www.proactiveinvestors.com/companies/news/129131/great-panther-in-strong-position-to-return-to-profitability-rodman-129131.html Broker Rodman repeated a 'buy' on silver miner Great Panther Silver Ltd (TSE:GPR, NYSEMKT:GPL) following its recent second quarter results and said the group was in a strong position to return to profitability during the rest of the year.

The firm reported a net loss of $1.7 million in the quarter, down from a loss of $4.5 million in the preceding three months.

Earnings were negatively impacted by a $6.4 million foreign exchange loss and a $2.2 million impairment charge related to the termination of the Coricancha agreement, noted analyst Heiko Ihle.

He also said that the average silver price realised during the quarter was $17.82 per ounce - below the current silver spot price of more than $20 an ounce.

"In our view, higher silver prices throughout 2H16 coupled with the elimination of one-time negative charges should place Great Panther in strong position to return to profitability during the remainder of the year," said Ihle.

The company milled 99,905 tonnes in the quarter, up 14% from 87,476 tonnes the year before, while silver equivalent ounces produced eased 5% to 1.04mln from 1.09mln the year before.

Rodman highlighted that management had repeated that production during the first half was on-target to meet annual guidance of between 4 and 4.2 million silver equivalent ounces and lowered cost guidance due to impressively low costs in the first half.

"In our view, production should continue to remain somewhat stable while the firm focuses on reducing costs further at both the GMC and Topia.

"We note the firm’s strong balance sheet, which was recently strengthened via a $29.9 million capital raise."

Ihle said: " In short, we think the firm is well positioned to continue to produce at a steady-state while improving costs and evaluating external opportunities for a potentially transformative acquisition."

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Mon, 08 Aug 2016 13:09:00 -0400 http://www.proactiveinvestors.com/companies/news/129131/great-panther-in-strong-position-to-return-to-profitability-rodman-129131.html